Meta is down by a whopping 73% this year and is falling to its lowest point, which was last seen in early 2016. The company also became the worst performer in the S&P 500 in 2022.
Meta Spokesperson Referred CNBC Back to Mark Zuckerberg's Previous Statements Regarding Layoffs
Naturally, the company had to take drastic moves to sustain this business. As per a recent report by Wall Street Journal, the company is expected to let go of thousands of employees sometime soon.
As per the story by CNBC, they tried to reach out to a Meta spokesperson regarding the latest earnings call. Still, they declined to comment and referred the publication to the comments made by Mark Zuckerberg during the latest earnings call.
Zuckerberg Says They Will Focus on a Small Number of High-Priority Growth Areas
During that time, Mark Zuckerberg noted that in 2023, the company would focus its investments on what he specified as a "small number of high-priority growth areas." He then explained that several teams would grow meaningfully while others would shrink or stay flat.
Zuckerberg noted that they expect to end 2023 as either staying the same size or becoming what he described as a "slightly smaller organization." In September, the company reportedly had over 87,000 employees.
Twitter Account Tracks Down Whereabouts of Mark Zuckerberg's Jet
Despite this, business continues, and a Twitter account called Zucc Jet used data from the ADSBExchange to track the movements of Zuckerberg's jet. The data showed his recent trip, the fuel used, and more.
ZuckJet, a Twitter account tracking the movements of Mark Zuckerberg, shared his recent trip, including his destination, the gallons used, pounds of jet fuel used, the cost of jet fuel, and tons of CO2 emissions that came from his trip. ZuckJet was created by Jack Sweeny.
Details of Mark Zuckerberg's Jet's Recent Flight
ZuckJet found Mark Zuckerberg traveling from FDK to SJC
The trip happened on Nov 6
Mark Zuckerberg traveled 2,398 miles
The flight carried a total of 2,636 gallons
The flight used a total of 17,666 pounds of jet fuel
The total cost of the fuel used in Mark Zuckerberg's flight totaled $17,423
The amount of CO2 emissions that the flight caused total of 28 tons
Read Also: Meta AI: New Database Features Metagenomic Structures, Millions of 'Dark Matter' Proteins
Zuckerberg is Sill Very Bullish on the Metaverse
Despite its performance, Meta is still very bullish on the metaverse despite spending billions of dollars each year and losing money on Horizon Worlds. The metaverse platform they created also saw a drop in users as fewer people started using the platform.
The company is still very positive about being able to enhance its VR tech, and despite losing billions, Mark Zuckerberg remains very optimistic about the company's plans for the future involving their tech and the metaverse.
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This article is owned by Tech Times
Written by Urian B.
