Meta Plans to Lay Off Around 10,000 Employees

The transcript discusses Meta's decision to cut 10,000 jobs and scrap 5,000 open roles due to economic challenges. Mark Zuckerberg's outlook is pessimistic, citing higher interest rates, a lean economy, and geopolitical tensions. Investors are reacting positively to cost-cutting measures, but concerns remain about the company's focus, especially with reduced R&D spending and losses from Reality Labs. Meta's pivot to AI with its LLaMA tool is highlighted, and the company braces for prolonged economic difficulties.

What was the primary reason for Meta's decision to cut 10,000 jobs and scrap 5,000 open roles?

• To increase their workforce

• To reduce expenses and adapt to economic changes

• To expand their operations globally

• To invest more in Reality Labs

Which factors did Mark Zuckerberg cite as contributing to a downbeat economic outlook?

• High inflation and low unemployment

• Higher interest rates and geopolitical tensions

• Increased consumer spending and market stability

• Technological advancements and innovation

How has increased regulatory scrutiny impacted Meta's growth, according to the transcript?

• It has had no impact

• It has resulted in slower growth

• It has led to a rapid expansion

• It has accelerated growth

What strategic shift did Meta make in response to the hype around AI?

• They introduced LLaMA, a generative AI tool

• They focused solely on advertising

• They increased investment in Reality Labs

• They abandoned AI development

What is Mark Zuckerberg's expectation regarding the duration of the current economic challenges?

• They will last for a few months

• They will last for many years

• They will be resolved quickly

• They will not affect Meta