Thursday, 5 March, 2026
Meta's Shareholder Wants Facebook to Reduce Expenditure In Metaverse and Jobs
By Basit Ansari
<p>Altimeter Capital Chair and CEO Brad Gerstner said to CEO Mark Zuckerberg that Meta, the parent company of Facebook, has to streamline by reducing staff and capital spending according to a report by CNBC. In order to regain the company's "mojo," the Meta investor suggested cutting headcount costs by 20% and capping the company's expensive investments in "metaverse" technology, or VR software and hardware, at $5 billion annually.</p>
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