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Topic Title: OMG!!!!!!!! Biden needs to do something about this ASAP!!!
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Created On: 07/05/2022 08:39 AM
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 07/05/2022 08:39 AM
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dingpatch

Posts: 17633
Joined Forum: 07/24/2003

Mark Zuckerberg issues dire economic warning to Meta employees

Last Updated: July 3, 2022 at 6:42 p.m. ET
First Published: July 2, 2022 at 1:12 p.m. ET
By Jon SwartzFollow

Mark Zuckerberg has issued a chilling message to Meta Platforms Inc. employees: The company faces one of the "worst downturns that we've seen in recent history," which will necessitate a scaling back of hiring and allocation of resources.

The dire economic warning was delivered during an internal videoconference meeting on Thursday for Meta's META, 1.07% 77,800 workers, according to a New York Times report. To underscore the ominous message, Zuckerberg told employees that they should expect to do more with fewer resources and that their performance would be more aggressively graded.

"I think some of you might decide that this place isn't for you, and that self-selection is OK with me," Zuckerberg said on a call, according to the Times. "Realistically, there are probably a bunch of people at the company who shouldn't be here."

Buttressing Zuckerberg's comments, Meta Chief Product Officer Chris Cox said in a separate memo that Meta faces "serious times" and economic "headwinds are fierce."

The most obvious manifestation will be fewer hires - Facebook's parent company now intends to add 6,000 to 7,000 engineers this year, down from an initial goal of 10,000, the Times reported. A former Facebook employee confirmed to MarketWatch that the Silicon Valley company has significantly reduced its hiring plans in recent months.

Meta's advertising business has been badly battered by a change in privacy settings to Apple Inc.'s AAPL, -0.33% mobile operating system, limiting the amount of user data that can be collected by Facebook and Instagram. Consequently, Meta has posted two straight quarterly profit declines for the first time in a decade. Meta lost some $230 billion in market value - its worst one-day hit ever - after it posted desultory results in February.

At the same time, Meta is pursuing a risky strategic pivot to the immersive world of the metaverse, which prompted the company's name change last year.

Meta is one of several tech companies facing choppy economic waters as it navigates through inflation, a war in Ukraine and supply-chain issues. In recent days, Tesla Inc. TSLA, -2.52%, Netflix Inc. NFLX, -0.90%, Unity Software Inc. U, 4.34%, Coinbase Global Inc. COIN, -0.18%, Stitch Fix Inc. SFIX, 3.57% and Redfin Corp. RDFN, 2.18% have announced deep job cuts.

Meanwhile, Twitter Inc. TWTR, -0.84%, Intel Corp. INTC, -1.84% and others have announced hiring freezes.

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"End of quote. Repeat the line."
 07/05/2022 08:42 AM
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Greensleeves

Posts: 20294
Joined Forum: 07/22/2003

Where will Qotards get their misinformation?
 07/05/2022 08:43 AM
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RustyTruck

Posts: 29461
Joined Forum: 08/02/2004

"Zuckerberg told employees that they should expect to do more with fewer resources and that their performance would be more aggressively graded."


And such has been the message from the capitalist class since we emerged from feudalism.

-------------------------
He/Him

The forest was shrinking
but the trees kept voting
for the axe because it's
handle was made of wood
and they therefore thought
it was one of them
 07/05/2022 08:51 AM
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surfrc

Posts: 885
Joined Forum: 07/26/2003

As a result of Powell's interest rate hikes, the economy is slowing and we are headed for a recession.
 07/05/2022 09:01 AM
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RustyTruck

Posts: 29461
Joined Forum: 08/02/2004

That's what they do to manage inflation, but since capitalism in very unstable, yes, it may trigger recession.

But don't worry about Mr. Zuckerberger, he's going to do just fine either way.

-------------------------
He/Him

The forest was shrinking
but the trees kept voting
for the axe because it's
handle was made of wood
and they therefore thought
it was one of them
 07/05/2022 10:15 AM
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Fish Killer

Posts: 61094
Joined Forum: 10/09/2005

Thanks Joe Biden!

FUCK JOE BIDEN!

-------------------------
FRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUD
FRAUDCRAPDIGITALISAPATHOLOGICALLYINGFAILUREFRAUD
FRAUDFRAUDFRAUDFRAUDBIDENFRAUDFRAUDFRAUDFRAUD
FRAUDFRAUDFRAUDFRAUDWTFISAPUSSYFRAUDFRAUDFRAUD
FRAUDSANDIISASADLITTLEIDIOTTHATCANTREADFRAUDFRAUD
 07/05/2022 11:09 AM
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Greensleeves

Posts: 20294
Joined Forum: 07/22/2003

Biden rules you tubby
 07/05/2022 12:55 PM
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Cole

Posts: 58967
Joined Forum: 07/22/2003

Wow, companies that produce nothing are having a tough time? Imagine that.

-------------------------
So long and thanks for all the fish.
 07/05/2022 01:02 PM
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johnnyboy

Posts: 21905
Joined Forum: 07/22/2003

Zuck is going to bat for those people we can be sure. He is using his power for good, as long its profitable.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 07/05/2022 01:51 PM
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Fish Killer

Posts: 61094
Joined Forum: 10/09/2005

Thanks Joe Biden!

FUCK JOE BIDEN!

-------------------------
FRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUD
FRAUDCRAPDIGITALISAPATHOLOGICALLYINGFAILUREFRAUD
FRAUDFRAUDFRAUDFRAUDBIDENFRAUDFRAUDFRAUDFRAUD
FRAUDFRAUDFRAUDFRAUDWTFISAPUSSYFRAUDFRAUDFRAUD
FRAUDSANDIISASADLITTLEIDIOTTHATCANTREADFRAUDFRAUD
 07/05/2022 03:05 PM
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surfsail

Posts: 4610
Joined Forum: 07/28/2003

Wondered how any of these 'social media' type/style companies managed to exist int hte first place, far less get as rich as they did...

I guess initially they were somewhat popular & useful reconnecting / keeping in contact with long lost friends etc, but have been so misused and abused spreading misinformation that they have lost all credence..

IF Their operators had put a prompt stop to spreading of misinformation etc, they investors would prob be still doing OK, but they are now lost causes - but then they would not have cashed in like they did..

Choices choices.. So 'sad' to see them all go down the tubes, with more to follow. Waahh waaahhh...

Sign of the times...

-------------------------
There are NO white people at all in the Bible...
... take all the time you need with that .....

 07/05/2022 04:11 PM
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nukeh2o

Posts: 7202
Joined Forum: 03/18/2016

Omg, omg ding dong!
The current magat method to cover for stupid business decisions is: blame someone else.
While these nouveau rechumplican dweebs steadily increase their obscene profits.....on the backs of their workers

-------------------------
It's a democratic hoax
 07/05/2022 05:17 PM
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Fish Killer

Posts: 61094
Joined Forum: 10/09/2005

Thanks Joe Biden!

FUCK JOE BIDEN!

-------------------------
FRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUDFRAUD
FRAUDCRAPDIGITALISAPATHOLOGICALLYINGFAILUREFRAUD
FRAUDFRAUDFRAUDFRAUDBIDENFRAUDFRAUDFRAUDFRAUD
FRAUDFRAUDFRAUDFRAUDWTFISAPUSSYFRAUDFRAUDFRAUD
FRAUDSANDIISASADLITTLEIDIOTTHATCANTREADFRAUDFRAUD
 07/05/2022 05:45 PM
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Lunchmeat

Posts: 3622
Joined Forum: 08/02/2003

Originally posted by: nukeh2o

Omg, omg ding dong!

The current magat method to cover for stupid business decisions is: blame someone else.

While these nouveau rechumplican dweebs steadily increase their obscene profits.....on the backs of their workers


Stfu Daisy, blame someone else is libtard snowflake rule #1.

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If it’s legal will do it, if it’s not legal, we’ll figure out how to change the law-Joe Biden
 07/05/2022 06:28 PM
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nukeh2o

Posts: 7202
Joined Forum: 03/18/2016

The generation of whiz bang "genius" types made their money off the coders and software geeks.
And these dorks (meee-lon!) apparently aren't real swift at managing their success.
Dump on the folks who actually made. you. rich.
They'll thoroughly enjoy trampling on your now non competitive companies.
But: theys be rich now....who cares

-------------------------
It's a democratic hoax
 07/05/2022 06:49 PM
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surfrc

Posts: 885
Joined Forum: 07/26/2003

We all know one thing for sure, NOOK KOOK is not a whiz bang genius, (More like a whiz bang retard) but he sure must be jealous of Musk as he continues to berate him. WHAT A KOOK.
 07/05/2022 07:09 PM
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Greensleeves

Posts: 20294
Joined Forum: 07/22/2003

Genius. Buying twitter which is sporadically profitable and mostly lame/boring for well above the current market value.
 07/05/2022 07:32 PM
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nukeh2o

Posts: 7202
Joined Forum: 03/18/2016

Originally posted by: Greensleeves

Genius. Buying twitter which is sporadically profitable and mostly lame/boring for well above the current market value.


yep. to ..."own the libs",....for 44 billion(?!).
I'm sure that is calming for his investors. oh, and:
America's fucking space program, youfucking acid head furball.
Anyone remember when muskrat used his battery and solar capabilities to power an australian town?
Or offered to re power puerto rico, essentially fuel free...after maria?
but, nooooo.......aspire to be yet another total anti constitution oligarch



-------------------------
It's a democratic hoax
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