Zuckerberg To Cut Headcount Based On Investor

  • Altimeter Capital Management pressed Meta CEO Mark Zuckerburg to reform the company’s hiring practices and focus on core competencies in a Monday investor letter.
  • Meta, formerly known as Facebook, changed its name last year to highlight a pivot toward developing the metaverse, an immersive virtual reality that the company believes will serve as the next phase of digital communication.
  • Share prices for Meta have fallen over 61.7 percent since the beginning of the year, significantly trailing the Dow Jones Industrial Average and the technology-heavy NASDAQ.