March 29, 2023
1025 mark zuckerber vr

Meta shareholder Altimeter Capital issued an open letter urging Meta to lay off 20% of its workforce and reduce Metaverse development costs

Brad Gerstner, founder of Altimeter Capital, who holds about 0.1% of Meta’s equity, published an open letter on Monday (10/24), claiming that Meta’s physique has been too inflated, and the stock price has fallen more than the market average, urging Meta to reduce its manpower by 20% and reduce annual expenses. Downsizing from $30 billion to $25 billion, and investing in the Metaverse should not exceed $5 billion a year.

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

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