Meta will cut 11,000 jobs, or nearly one in seven jobs – Science et Avenir

This social plan is one of the most important launched this year in the high-tech sector. This is the first company in history co-founded by Mark Zuckerberg 18 years ago. While the pandemic has boosted the activity of “tech” companies and led to a sharp increase in their market value, the return of inflation and rising interest rates have led to difficulties this year that have already led several other large companies such as Tesla or Microsoft , crash into their work force. Zuckerberg’s decision, as reported in a blog post published Nov. 9, 2022, came less than a week after the massive layoffs were announced on Twitter, as his new boss, Elon Musk, decided to lay off half of the social network’s employees he has. just purchased.

“I made this mistake and I take responsibility for it,” writes Mark Zuckerberg.

“E-commerce has not only returned to its previous trends, but the macroeconomic downturn, increased competition and loss of advertising revenue have resulted in much lower sales than I expected,” writes Mark Zuckerberg, CEO, in this message to all of Meta . employees. “I made this mistake and I am responsible for it.” He added that the group wanted to focus its resources and capital on “high priority growth areas” such as the AI ​​engine, advertising and professional platforms, or the “Metaverse” project.

Metaverse, why?
That was a year ago, an eternity… On Monday, October 18, 2021, Facebook France General Manager Laurent Solly announced that Mark Zuckerberg’s company intends to recruit 10,000 people in the European Union over the next five years. The goal is to contribute to the creation of the famous “Metaverse”. Metaverse? This is a futuristic project of the immersive Internet: the user is no longer just a spectator of the digital space, he literally plunges inside. The use of augmented and virtual reality masks is an introduction to the metaverse, with two main differences: first, in the metaverse, users can interact. Second, the metaverse continues to evolve in the absence of its users. Those who have watched Ready Player One, the 2018 Spielberg film, are already familiar with this device. Problem: Similar to what we see in this feature film, the metaverse is willingly presented as a way to escape the nightmarish reality. In fantasy it is. What would really happen? The Meta explicitly states that the emergence of this “3D Internet” is desirable, in part through a powerful publicity campaign that explains that even if the Metaverse is “virtual, its impact will be real.” Understand, surgeons would train more realistically there, students would feel that they are immersed in the subjects being studied. “It seems surprising that we are being offered a frightening dystopia as a desirable future that is more like a nightmare than a dream,” says Jean-Gabriel Ganacha, a professor at the Sorbonne University, in a column published in Science et Avenir. .
Olivier Lascar

Meta shares up 3% on Wall Street after layoffs announced

Meta also plans to cut its unlimited spending and extend its recruitment moratorium until the end of the first quarter of 2023. Employees whose position has been abolished are entitled to compensation equivalent to 16 weeks of base pay plus two weeks per year of service. Meta, which has fallen 71% since the start of the year, rose 3% in pre-trading on Wall Street following the announcement.

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