Meta is preparing for a challenging quarter to come. On the one hand, the business keeps looking for the best way to deal with Apple's privacy features on iPhones. On the other hand, TikTok is a fierce competitor for it. Recently, Meta's CEO, Mark Zuckerberg, made it quite plain that the firm has some, if not a significant number of employees who probably don't belong there. According to The Verge, Zuckerberg even decided to cancel Meta Days, which were additional vacation days for staff created during the height of the pandemic to deal with.
Co-founder of Facebook adds, "In all likelihood, there are many employees at the company who shouldn't be there. By setting higher standards, setting more ambitious goals, and generally turning up the heat a little bit, [part of my intention is that] some of you may just decide that this place isn't for you. And I don't mind that self-selection ".
Further igniting a discussion on Workplace, Meta's internal chat platform for staff members, was Zuckerberg's comment. While some worried about losing their jobs, others questioned who hired these workers who are obviously too focused on relaxing.
Additionally, he spoke just a few days before the business's quarterly earnings report was made public. Since the business became public, Meta's total revenue has increased for the first time.dropped in the June 2022 quarter (Q2 2022). The company further predicts a drop in revenue in the September 2022 quarter (Q3 2022). Interestingly, Zuckerberg's team, which is overseeing the development of Metaverse, saw a fall in revenue.
According to Meta, third-quarter revenue will drop from $28.8 billion to roughly $26 billion (July to September).
Along with Meta, other major tech companies are also under pressure due to the global economic downturn and the conflict between Russia and Ukraine. Sundar Pichai, the CEO of Google, voiced similar worries about the company having too many people who are not working enough, though not in a severe manner like Zuckerberg.
