Tyson's Blog

As a result of economic challenges Meta’s chief executive, Mark Zuckerberg has announced that teams sizes may shrink over the next year.

These job cuts are set to be the most significant job cuts at Meta since the company was founded in 2004.

The company has been struggling financially for months due to spending lots of money on new immersive technology, inflation, and the state of the global economy right now. Another reason Meta is struggling is digital advertisers have pulled back which makes up the bulk of Meta’s revenue.

This is news because Meta is a very large company that most people use everyday. Facebook and Instagram are apps that many people check daily or even more often then that. Hearing that the company is struggling financial rises concerns from the customers who enjoy using these platforms.

Meta’s focus on the new technology that will bring the “metaverse” to reality is also news. Less money going into the older platforms like Facebook and shifting that funding to the metaverse could be exciting to some but frustrating to others that don’t have an interest in virtual reality.

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