Zuckerberg said earlier this year that Meta’s metaverse project would bleed billions of dollars in the first years.
Meta stock has shed half of its value this year as Facebook’s started losing users for the first time since its creation and as doubts grew over its expensive transition into the metaverse. The company froze hiring in May as revenue growth slowed.
Reuters reported in July that Zuckerberg was upping performance goals at the company to get rid of staff that “shouldn’t be here.”
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