Meta shareholder calls for staff cuts

Stefan Mileschin · 26th October 2022, 07:14

Company needs to get its mojo back with some good old fashion human sacrifice

Meta shareholder Brad Gerstner, from Altimeter Capital, has written an open letter to Meta calling on the company to “get its mojo back” by kicking out one in five of its staff.

To make his plan clear, Gerstner said that his cunning plan would help the company double its free cash flow (FCF) to $40 billion per year. With numbers like that, who cares that it involves axing at least 20 per cent of staff, which works out to more than 16,000 jobs being cut, they are only humans after all.

Gerstner did not believe that the Metaverse plan was worth all the cash that Meta was pouring into it. He thinks that spending on this should be limited to $5 Billion.

Such a change in Meta’s finances could help restore investor confidence in Meta, which has seen its stock price fall 55% in the last 18 months, whereas other big tech firms have seen their stock fall by an average of just 19 per cent.

https://fudzilla.com/news/memory-and...for-staff-cuts

26th October 2022, 07:14	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,650	Meta shareholder calls for staff cuts Company needs to get its mojo back with some good old fashion human sacrifice Meta shareholder Brad Gerstner, from Altimeter Capital, has written an open letter to Meta calling on the company to “get its mojo back” by kicking out one in five of its staff. To make his plan clear, Gerstner said that his cunning plan would help the company double its free cash flow (FCF) to $40 billion per year. With numbers like that, who cares that it involves axing at least 20 per cent of staff, which works out to more than 16,000 jobs being cut, they are only humans after all. Gerstner did not believe that the Metaverse plan was worth all the cash that Meta was pouring into it. He thinks that spending on this should be limited to $5 Billion. Such a change in Meta’s finances could help restore investor confidence in Meta, which has seen its stock price fall 55% in the last 18 months, whereas other big tech firms have seen their stock fall by an average of just 19 per cent. https://fudzilla.com/news/memory-and...for-staff-cuts

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