4/3/2023 New York
Meta, the company that owns facebook and has taken an ambitious stance on the future of the metaverse, has conducted 2 rounds of mass layoffs and ceased to hire for remote positions. Onlookers seem confused since the company has bet its entire future on the metaverse, particularly around working remotely in a virtual environment.
Not only did Meta perform well while employees worked remotely, but employees managed to save record amounts of money through remote work. On average, Americans living in major cities save around $10,000 each year through remote work. Check out this article to do the math for your own situation, and see how much money you are losing out on.
The company spent $13.7 billion on the metaverse in 2022 and changed its name from facebook to meta. In recent news, Disney dissolved its unit dedicated to the metaverse and laid off the staff working on the project.
In the last quarter, the company’s stock has performed well. The stock has risen from $125 to $213 in the last 3 months alone. The question is why? Wouldn’t a company that contradicts itself so egregiously see its stock fall?
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