Meta braces for posting first-ever revenue decline

When a Facebook employee asked Mark Zuckerberg about vacation days during a recent virtual meeting, the founder of the social media giant obviously wasn’t pleased as punch.

A “visibly frustrated” Zuckerberg said, according to The Verge: “Given my tone in the rest of the Q&A, you can probably imagine what my reaction to this is.”

Problems galore
After all, Facebook’s parent company, Meta, is in danger of posting its first-ever quarterly revenue decline in the second quarter on Wednesday. Its stock is down 50% this year.

TikTok is eating into Facebook’s business. Facing stiff competition from the short video app, Facebook has already redesigned its website to look a lot more like TikTok.

Zuckerberg, who lost over 50% of his wealth in 2022, was forced to sell his San Francisco home for $31 million.

Unhappy times
And he’s already hinted at massive job cuts in the face of the “worst downturns we’ve witnessed in recent history.”

“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Zuckerberg said during the meeting.

Clearly, these aren’t happy times for Meta and its employees.