Two of the world’s largest social media companies are shaking up their respective companies with massive changes. Facebook this week announced cuts of 11,000 employees as the social media giant’s move in the Metaverse has not netted the ROI Zuckerberg was expecting. After investing $100 billion dollars in the development of the alternative reality, Zuckerberg is taking responsibility and making some changes:
“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1,” Zuckerberg shared in a company-wide email.
“I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted,” continued Zuckerberg.
Meanwhile, over at Twitter, Musk is making headlines as he requires Twitter employees to go hardcore and be all in at the social media giant now that he has taken the reigns of the company. After his $44 billion takeover, Musk wants to make sure his employees are on board and ready to work. So much so that by 5 pm Thursday employees had to agree to be all in or take a 3 months severance and go home.
“Going forward, to build a breakthrough Twitter 2.0 and succeed in an increasingly competitive world, we will need to be extremely hardcore,” Musk wrote. “This will mean long hours at high intensity. Only exceptional performance will constitute a passing grade.”