Source: news.google.com
- altimeter capital Chairman and CEO Brad Gerstner wrote an open letter to Meta Platforms Inc GOAL and CEO Mark Zuckerberg who was overstaffed and moving too slowly to retain investor confidence.
- Gerstner suggested that Meta cut staff costs by 20% and limit its expensive investments in “metaverse” technology to no more than $5 billion annually.
- “Meta needs to rebuild trust with investors, employees and the tech community to attract, inspire and retain the best people in the world,” Gerstner.
- Meta shares are down over 61% in 2022 so far.
- Also read: Mark Zuckerberg’s Metaverse Strategies Raise Concerns From VR Developers
- At the end of the second quarter of this year, Altimeter Capital owned more than 2 million Meta shares, CNBC reports.
- Goal…
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