Cuts this year could affect 10% of the company's 78,000 workers, one employee said. On top of that, Facebook internally announced a hiring freeze in May, which left employees on edge and expecting the worst.
Other executives have made internal comments and written notes alluding to job cuts, including Maher Saba, the head of engineering, and Chris Cox, the head of product. He had previously said fewer employees would make Facebook "a better company." The CEO said the company, which last year changed its name to Meta Platforms, would set "more aggressive goals" and that he welcomed people choosing to leave the company. Goler's note aimed to clarify comments made by Mark Zuckerberg at a weekly Q&A. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.Those who fall short of the new expected intensity should be transitioned out of the company, Goler said, calling it the "right thing to do." Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. When Facebook launched in 2004, it changed the way people connect. Meta builds technologies that help people connect, find communities, and grow businesses. See also: Building the Metaverse Responsibly, Expanding Horizon: New Funding to Support Creators, Introducing Our New Company Brand (2019)
Today’s announcement does not affect how we use or share data. We also intend to start trading under the new stock ticker we have reserved, MVRS, on December 1. Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs. Our corporate structure is not changing, however, how we report on our financials will.
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You can watch the full Connect keynote and learn more about how the metaverse will unlock new opportunities at. We also announced new tools to help people build for the metaverse, including Presence Platform, which will enable new mixed reality experiences on Quest 2, and a $150-million investment in immersive learning to train the next generation of creators.
This year’s virtual event explored what experiences in the metaverse could feel like over the next decade - from social connection, to entertainment, gaming, fitness, work, education and commerce. Our annual Connect conference brings together augmented and virtual reality developers, content creators, marketers and others to celebrate the industry’s momentum and growth. Mark shared more about this vision in a founder’s letter. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company. It will let you share immersive experiences with other people even when you can’t be together - and do things together you couldn’t do in the physical world. The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and grow businesses. Today at Connect 2021, CEO Mark Zuckerberg introduced Meta, which brings together our apps and technologies under one new company brand.