![]() He added that based on his life experience, transitioning to a four-day work week all the time would not be productive. He also encouraged exhausted employees to use their vacation days. The social media giant is thinking of extending existing three-day holiday weekends, Zuckerberg said, responding to a question on burnout. Meta is already talking about ways to retain staff amid the stock rout. Zuckerberg’s own wealth dropped by $31 billion. Others fretted about what a continued decline might mean for their net worth, according to people familiar with the matter. Some were discussing buying shares during the dip, believing in Zuckerberg’s long-term vision for the metaverse, an immersive version of the internet. The social media giant is thinking of extending existing three-day holiday. ![]() Facebook lost a record $251 billion of value in a single day. Zuckerberg’s own wealth dropped by 31 billion. Meta’s Instagram app has a copycat of TikTok called Reels, which the company is now prioritizing.Įmployees were glued to the stock price. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the rival viral-video platform. It is important to focus on growing Facebook’s short-video product, he said. Employee options vest on Feb 15, and annual bonuses hit in March – both of which could be factors in workers’ potential decisions to leave, according to another person familiar with the company’s plans.At a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. It is important to focus on growing Facebooks short-video product, he said. He added that based on his life experience, transitioning to a four-day work week all the time would not be productive.įacebook employees, like many in the technology industry, tend to be heavily compensated via shares. At a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Metas weak forecast for revenue in the current quarter, according to a person who attended and was not authorized to speak about it. Zuckerberg’s own wealth dropped by US$31bil (RM129.56bil). ![]() Facebook lost a record $251 bil (RM1.05bil) of value in a single day. Meta’s Instagram app has a copycat of TikTok called Reels, which the company is now prioritising.Įmployees were glued to the stock price. Zuckerberg echoed his remarks of a day earlier to investors, telling employees that the social networking giant faced an “unprecedented level of competition,” with the rise of TikTok, the rival viral-video platform. (Bloomberg) - Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news.Most Read from BloombergAmazon Is Raising Base Salary Cap to 350,000 From 160,000We’re Fine Without Facebook, German and French Ministers SayOttawa Declares Emergency as Protests Spin ‘Out of Control’Meta Renews Warning to EU It Will Be Forced to Pull FacebookPeter Thiel to Leave. ![]() His red, teary eyes were the result of a scratched cornea, the Facebook founder said Thursday, rallying employees as Meta Platforms Inc.’s stock price lost more than a quarter of its value.Īt a company-wide virtual meeting, Zuckerberg explained that the historic stock drop was a result of Meta’s weak forecast for revenue in the current quarter, according to a person who attended and was not authorised to speak about it. Mark Zuckerberg quipped that if he started to cry, it wasn’t because of the day’s news. ![]()
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