![]() 15, and annual bonuses hit in March - both of which could be factors in workers’ potential decisions to leave, according to another person familiar with the company’s plans. FRANCES HAUGEN: So Im a large holder of Facebook stock because I cant sell it.-Why cant you sell it-Because Im an insider.Right, right.-Thats kind of a bummer then, right-Well, I have. Feb 2 (Reuters) - Facebook owner Meta Platforms Incs (FB.O) shares plunged more than 20 late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apples. He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.įacebook employees, like many in the technology industry, tend to be heavily compensated via shares. Zuckerberg Tells Staff to Focus on Video Products as Meta’s Stock Plunges. He also encouraged exhausted employees to use their vacation days. Meta expects another 1 billion in restructuring costs in 2023. Part of the efficiency focus will involve cuts. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. Zuckerberg staff focus products meta stock. Meta is already talking about ways to retain staff amid the stock rout. Zuckerberg’s own wealth dropped by $31 billion. Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter. Some were discussing buying shares during the dip, believing in Zuckerberg’s long-term vision for the metaverse, an immersive version of the internet. At a company-wide virtual meeting, Zuckerberg explained that the historic. His red, teary eyes were the result of a scratched cornea, the Facebook founder said Thursday, attempting to lighten the mood as Meta Platforms' stock price lost more than a quarter of its value. Facebook lost a record $251 billion of value in a single day. An anonymous reader shares a report: Mark Zuckerberg quipped that if he started to cry, it wasn't because of the day's news. Meta’s Instagram app has a copycat of TikTok called Reels, which the company is now prioritizing.Įmployees were glued to the stock price. ![]() Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the rival viral-video platform. It is important to focus on growing Facebook’s short-video product, he said. He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.At a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter. (Bloomberg) - Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news.Most Read from BloombergAmazon Is Raising Base Salary Cap to 350,000 From 160,000We’re. Facebook lost a record $251 billion of value in a single day. ![]() ![]() At a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. ![]()
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