Current Events > Meta stock SOARS 20 percent after Zuckerberg hints at MORE MOOOORE layoffs

(+) Yeah! (+)

In 2023: announce layoffs. Stock goes up blindly.
Investors: MORE layoffs need MORE stock price NOW!
announce more
stock goes up

Welcome to Bullshit Capitalism.

https://nypost.com/2023/02/02/meta-stock-soars-20-after-zuckerberg-hints-at-more-layoffs/

Meta CEO Mark Zuckerberg said the social-media giant will make 2023 the year of efficiency and signaled that more layoffs could be in the offing as Wall Street reacted positively to news that the company would initiate $40 billion worth of share buybacks.

Share of Meta surged by nearly 20% in pre-market trading on Thursday as Facebooks parent companys fourth quarter earnings beat analysts estimates on Wednesday.

Zuckerberg said that the company may incur additional restructuring charges as we progress further in our efficiency efforts, with the company saying they could total $1 billion this year.

We closed last year with some difficult layoffs and when we did this, I said clearly that this was the beginning of our focus on efficiency and not the end, Zuckerberg said. adding that further layers of middle management could still be trimmed.

Meta said it spent around $3.7 billion last year in paying out severance as well as terminating office leases.

Our management theme for 2023 is the year of efficiency, and were focused on becoming a stronger and more nimble organization, he said.

I love how efficiency in most of these cases just mean people will have to manage and process/execute now.

which is the opposite of an efficient org.

RIP TCs META puts

Zeeak4444 posted...

I love how efficiency in most of these cases just mean people will have to manage and process/execute now.

which is the opposite of an efficient org.

exactly it is just a buzz phrase so they don't give the real reason which is to increase exploitation and stock prices and please dumbass investor shareholder idiots