Commentary
Over the weekend, it leaked that Facebook, newly and absurdly named Meta after its worst-performing division, plans mass layoffs in hopes of saving the company from its one-year collapse of nearly 75 percent in market capitalization.
In other words, Facebook is getting Twitterized. No longer will its 87,000 employees automatically continue to live a six-figure lush life while hobnobbing with deep state bureaucrats and deciding who can say what to whom.
The news underscores the point: Twitter’s 50 percent cuts are not a result of Elon Musk’s desire for retribution against the staff but an economically necessary shift to get the company on a profitable footing. Facebook too must face the music….