Zuckerberg Expects Meta to Become a 'Somewhat Smaller' Org in 2023 to Drop Expenses by Around $3B

Per Bloomberg

Mark Zuckerberg plans to reorganize teams and reduce headcount for the first time ever. The company added 5,700 new hires to its 83,500 workforce in the second quarter.

Annual expenses are expected to drop by about $3B as its estimated range ballooned up to $95B. Meta shares have already fallen 60% this year.

See full $META flow at unusualwhales.com/flow.