November 18, 2022

Mark Zuckerberg Addresses Company After Mass Layoff

Meta Platforms Inc Chief Executive Mark Zuckerberg addressed the company employees a week after Meta laid off 11,000 workforce.

WhatsApp and Messenger would drive the company's next wave of sales growth, Zuckerberg told employees

According to Reuters, Meta Platforms Chief described the messaging app pair as very early in monetization compared to its advertising juggernauts Facebook and Instagram.

"We talk a lot about the very long-term opportunities like the metaverse”, Zuckerberg said in his address to the company.

The business messaging is probably going to be the next major pillar of company business as the Meta firm work to monetize WhatsApp and Messenger more," he also said.

In his address to employees, Zuckerberg said About 20% of Meta budget was going to Reality Labs, the unit responsible for its metaverse investments.

About 40% of Reality Labs' budget went toward virtual reality, while about 10% was spent on futuristic social platforms such as the virtual world it calls Horizon.