When Meta had its first set of layoffs - Zuckerberg said he takes full responsibility for it. So what exact repercussions is he facing ? He made a terrible bet with some of the projects, hired so many engineers and now he is letting everyone go like a flock of sheep. This is a prime example of when a founder should be asked to step down as a CEO of a company and let someone else take the reign. #meta #layoffs #MetaLayoffs
The $300k+ TC engineers didn’t execute on the vision. Had they executed, they would not only still have jobs, but their TC would have multiplied due to stock skyrocketing.
Well if your vision is shit, no matter how hard you work, it all comes down to adaptation. Meta released it's quest last year, and people didn't really buy it. Even after they slashed their price.
No matter how hard you execute, if adaptation fails, your vision is gonna fail too
And it's "his" company. You would leave the company if another employer beat your salary by 20%. Stop expecting job security bull shit. You aren't in boomer world.
He doesnt own the majority company. He owns 13.2% of Class A Meta stock. There are other shareholders of the company.
Lol OP you are so misinformed. Zuckerberg has complete voting control in Facebook. Read up on his class B shares. This was setup years ago to allow Mark to have full control of the company even as he sells.
It’s fine if he does.. but really he should be looking at his execs. There are certain people high up in his cabinet that have been promising to execute on company P0s for the last 5 years that have never delivered. They lead by “vibes” and are totally empty of any expertise in internal all hands.. yet they get paid millions and spend lavishly on 10,000$ sneakers to do nothing. How about those people? They need to share in the responsibility too.
Yup, Mark needs to come down. His vision of Meta failed. He can't grow the company to next phase.
Or at least needs to stop surrounding himself with shitty “leaders” that are just his buddies cashing checks and doing nothing
💯
Disagree, even though it sucks the affected people should be happy with what compensation and experience they got. If the growth didn’t happen that’s less wages that would have been paid out all around
During tough times family takes some hard financial decisions. Similarly corporates do. You won’t keep a mortgage you can’t pay emi for. Do you ?
Meta had hired a lot of smart people but unfortunately they could not hire wise people. The same is the story of Amazon.
Why you upset with Mark. He paid many undeserving folks 300k for a couple of years. He did them favors.
He also paid them a lot of money as severance.
Slave mentality. We were overworked and earned every last penny. We didn’t work for free