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THE METAVERSE

More Metaverse-inspired mayhem for Mark’s once-marvellous Meta

By our News Team | 2023

The Metaverse magic that Mark Zuckerberg promised the world seems in short supply, as struggling company fires another 10,000 workers.

The much-hyped digital world of the future has perhaps become a millstone around the neck of Mark Zuckerberg, as the Facebook founder announced on Tuesday that the business is to get rid of 10,000 more workers, with a further 5,000 unfilled job adverts being closed without anyone being hired.

This is in addition to the 11,000 people made redundant at Meta late last year. The company owns Facebook, Instagram and WhatsApp, and has invested billions of dollars in developing the new digital world of the Metaverse – so far with apparently little tangible to show for it.

The Metaverse

Mark Zuckerberg during a 2018 keynote address. Photo credit: Anthony Quintano via Wikimedia Commons

Facebook founder and Meta CEO, Mark Zuckerberg, made the announcement of the further staff cuts in a blog post published on Facebook, in which he emphasised: “This will be tough and there’s no way around that.”

At its peak in earlier 2022, Meta had around 87,000 employees worldwide, with a great many hired post-pandemic as Zuckerberg and his executive team poured money into the Metaverse concept and envisioned that the strong business growth of digital platforms during Covid would continue into the future.

But that has proved not to be the case. Advertising support for the existing platforms has dipped and investors are increasingly concerned that the money being spent on developing the Metaverse concept seems to have become a bottomless pit.

2023 is the Year of Efficiency at Meta

This year has been touted as Meta’s ‘Year of Efficiency’ and Zuckerberg said in his post that a leaner organisation would execute its highest priorities faster.

“People will be more productive, and their work will be more fun and fulfilling. We will become an even greater magnet for the most talented people. That’s why, in our Year of Efficiency, we are focused on cancelling projects that are duplicative or lower priority and making every organisation as lean as possible,” he stated.

It seems there will also be a greater focus on getting the company’s engineers into the office rather having them work remotely, as has been the case.

“Engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week. I encourage all of you to find more opportunities to work with your colleagues in person,” Zuckerberg said.

The latest round of layoffs is scheduled to begin in April and will be in addition to around 100,000 staff redundancies this year at other digital tech giants such as Google, Microsoft, Amazon and Twitter.

When Meta made its first round of dismissals in November 2022, media reports claimed one disgruntled employee had said “the Metaverse will be our slow death” and “Mark Zuckerberg will single-handedly kill a company with the Metaverse”.

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.