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Seeing these 5 figures, investors increased the pressure, Meta had to leave thousands of employees

By Webdesk

Posted on November 9, 2022

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Mark Zuckerberg’s dream about Meta is costing the company a lot. The effect of which is clearly visible on the balance sheet, due to which the company has gone down on cost cutting.

TV9 Bharatvarsh | Edited By: Saurabh Sharma

Updated on: Nov 09, 2022, 6:32 PM IST

Facebook's parent company Meta announced today that it is going to lay off 11,000 employees. In fact, in view of the deteriorating financial condition of the company, investors had increased their pressure on the management to start taking more difficult decisions. The main reason for the pressure is the Realty Lab division, in fact Metaverse is Zuckerberg's dream, although the company's investment in it has increased so much that the company's profits are constantly falling. This is the reason why the company has been forced to reduce costs. Know what are those figures which prove that Meta is in a position to derail and investors are pressurizing the company to reduce the cost of handling the situation. — Facebook’s parent company Meta announced today that it is going to lay off 11,000 employees. In fact, in view of the deteriorating financial condition of the company, investors had increased their pressure on the management to start taking more difficult decisions. The main reason for the pressure is the Realty Lab division, in fact Metaverse is Zuckerberg’s dream, although the company’s investment in it has increased so much that the company’s profits are constantly falling. This is the reason why the company has been forced to reduce costs. Know what are those figures which prove that Meta is in a position to derail and investors are pressurizing the company to reduce the cost of handling the situation.

The reason for the loss of Meta is the Realty Lab Division. Its loss in the third quarter was $ 3.7 billion, which is much higher than the $ 2.8 billion in the second quarter.

There has been a sharp decline in Meta's September quarter profit. The company's net income stood at $4.395 billion in the third quarter as against $9.194 billion in the same quarter last year. — There has been a sharp decline in Meta’s September quarter profit. The company’s net income stood at $4.395 billion in the third quarter as against $9.194 billion in the same quarter last year.

There is a continuous declining trend in the net income of the company. Net income in the fourth quarter of last year was above $10 billion. This figure was $ 7.4 billion in the first quarter of the year and $ 6.68 billion in the second quarter.

Meta's spending continues to boom, with the company's capital expenditure crossing $9 billion in the third quarter from $4.5 billion a year ago. — Meta’s spending continues to boom, with the company’s capital expenditure crossing $9 billion in the third quarter from $4.5 billion a year ago.

The stock of Meta has been dented by Mark Zuckerberg's plan to increase investment in the loss-making realty lab. The stock has come down 60 percent in the year 2022. — The stock of Meta has been dented by Mark Zuckerberg’s plan to increase investment in the loss-making realty lab. The stock has come down 60 percent in the year 2022.

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Related Items:CEO Mark Zuckerberg, employees, facebook, figures, increased, investors, leave, Meta, Metaverse, pressure, Thousands

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