Meta's big job cuts aren't about the tricky economy or rising inflation. They're about Mark Zuckerberg's mistakes.
. What's more, 5,000 open roles would be closed, showing just how serious the company is about slimming down their workforce and reducing operating costs overall. , Zuckerberg blamed the most recent state of the economy:"Last year was a humbling wake-up call. The world economy changed, competitive pressures grew, and our growth slowed considerably.
Last October, two weeks before reports surfaced that Meta was cutting jobs, shareholder Altimeter Capital's CEOto the social network giant requesting that it reduce headcount by 20% and cut back on overall spending, including its multi-billion dollar investments in the metaverse.
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