Friday, 24 March, 2023

Meta's Shareholder Wants Facebook to Reduce Expenditure In Metaverse and Jobs

<p>Altimeter Capital Chair and CEO Brad Gerstner said to CEO Mark Zuckerberg that Meta, the parent company of Facebook, has to streamline by reducing staff and capital spending according to a report by CNBC. In order to regain the company&#39;s &quot;mojo,&quot; the Meta investor suggested cutting headcount costs by 20% and capping the company&#39;s expensive investments in &quot;metaverse&quot; technology, or VR software and hardware, at $5 billion annually.</p>