“Many people predicted that this would be a lasting acceleration that would continue after the pandemic. I did, so I made the decision to significantly increase our investments. Unfortunately, this didn’t work out as expected,” he adds.
Now, the macroeconomic recession, increased competition and the loss of advertisers, Zuckerberg said, has left “our incomes much lower than I expected. I was wrong and I take responsibility for it.”
The head of Meta acknowledges that the company should focus on a smaller number of sectors, reduce costs and prioritize some units, such as those focused on the artificial intelligence engine.
The layoffs are the first major staff cuts in the company’s 18-year history, according to The Wall Street Journal, and coincide with those of other tech companies, such as Twitter.
Source: El heraldo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
