![]() ![]() Why Is Meta Platforms Laying Off Employees? In other words, Meta Platforms' headcount should decline to slightly above 76,000 following the completion of its planned layoffs, which implies that META's staff strength will be back to end-March 2022 levels. In comparison, META's headcount has been on a rising trend since the beginning of this year. In this article, META's CEO Mark Zuckerberg mentioned that the company has "decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go", while "extending our hiring freeze through Q1." There are some key metrics pertaining to META's layoff plans that are worth noting.Įarlier, Meta Platforms published an article titled "Mark Zuckerberg's Message to Meta Employees" in the "Newsroom" section of its corporate website on November 9, 2022. As such, I maintain a Buy rating for META. I believe that there should be a better alignment of Meta Platforms' costs and revenue in the future taking into account its layoff plans, which will boost META's 2023 profitability. ![]() This catalyst relating to the moderation in headcount expansion has been realized taking into account META's recent announcements, and the company's layoffs are the focus of the current article. In my prior Septemwrite-up for META, I highlighted that "slower-than-expected headcount growth" is one of the key catalysts for Meta Platforms. I rate Meta Platforms, Inc.'s ( NASDAQ: META) shares as a Buy. Jaanalisette/iStock Editorial via Getty Images Elevator Pitch ![]()
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