Facebook Parent Meta Asked by Shareholder to Cut Jobs, Spending in Open Letter to CEO Mark Zuckerberg

Meta shareholder Altimter said on Monday that the Facebook parent needs to cut jobs and spending, as the firm has lost investor confidence as it ramped up spending and pivoted to the metaverse. The hedge fund, which has a 0.1 percent stake in the company said that huge investments "in an unknown future is super-sized and terrifying, even by Silicon Valley standards", ...