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☆ Meta to lay off 11,000 employees, as Zuckerberg says he is 'accountable for missteps'
  + stars: | 2022-11-09 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +4 min
New York CNN Business —Facebook parent company Meta on Wednesday said it is laying off 11,000 employees, marking the most significant job cuts in the tech giant’s history. The job cuts come as Meta confronts a range of challenges to its core business and makes an uncertain and costly bet on pivoting to the metaverse. “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” CEO Mark Zuckerberg wrote in a blog post to employees. “I want to take accountability for these decisions and for how we got here,” Zuckerberg wrote in his post Wednesday. “At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth,” Zuckerberg wrote Wednesday.
☆ Tech CEOs all made the same dumb mistake, thinking the pandemic boom would last forever. Now employees are paying the price with massive layoffs.
  + stars: | 2022-11-09 | by ( Matt Weinberger | ) www.businessinsider.com   time to read: +5 min
Mark Zuckerberg took accountability for the mistake that led to this week's 11,000 job cuts at Meta. That mistake: Thinking the pandemic-era good times for tech would last forever. Many other tech companies made the same mistake. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended," Zuckerberg wrote in a memo to employees on why he's cutting 11,000 jobs at Meta. Startups raised money in eye-watering amounts, even as the major tech companies saw their share prices soar.
☆ Meta laying off more than 11,000 employees
  + stars: | 2022-11-09 | by ( Jonathan Vanian | ) www.cnbc.com   time to read: +11 min
Meta is laying off 13% of its staff, or more than 11,000 employees, CEO Mark Zuckerberg said in a letter to employees Wednesday. "I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Impacted employees will receive 16 weeks of pay plus two additional weeks for every year of service, Zuckerberg said. This hefty bet has cost Meta $9.4 billion so far in 2022, and the company anticipates that losses "will grow significantly year-over-year." I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go.
☆ Read the memo Mark Zuckerberg sent to employees announcing Meta's plans to lay off more than 11,000 people
  + stars: | 2022-11-09 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +9 min
Mark Zuckerberg sent a memo to employees on Wednesday announcing mass layoffs at Meta. Meta employees have been expecting widespread layoffs for months as CEO Mark Zuckerberg's focus on creating the metaverse has proven extremely costly and slow, Insider previously reported. Read below the full note that Zuckerberg sent to Meta staff:Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We would not be where we are today without your hard work, and I'm grateful for your contributions.
☆ Chess-World champion Carlsen alleges Niemann has cheated more than he admits
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +3 min
read more"So far I have only been able to speak with my actions, and those actions have stated clearly that I am not willing to play chess with Niemann," Carlsen said in a statement on Twitter. "When Niemann was invited last minute to the 2022 Sinquefield Cup, I strongly considered withdrawing prior to the event. I ultimately chose to play," Carlsen said. "I believe that Niemann has cheated more - and more recently - than he has publicly admitted," Carlsen said on Monday. "Chess organisers and all those who care about the sanctity of the game we love should seriously consider increasing security measures and methods of cheat detection for over-the-board chess," Carlsen added.
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