• After their aggressive hiring during the pandemic, Meta is opting for massive layoffs in order to keep their momentum going in the Metaverse.
• A staggering 11,000 jobs, or 13% of its workforce, will be affected, the first and largest in Meta’s 18-year history.
• Meta was once worth over US$1 trillion and is now valued at just US$256 billion, reflecting a loss of over 70% in value this year alone.

It was in October 2021 when Facebook, a social media titan, rebranded itself as Meta as it strives to make the metaverse not only a reality but also a routine. Subsequently, during the first nine months of this year, Meta lost a staggering $9.4 billion in his metaverse…