Tech Billionaire's Wealth Soars as Layoffs Ravage Industry

Despite a $46.6 billion increase in his net worth this year, Facebook-parent Meta's CEO Mark Zuckerberg has urged employees to be "scrappier" amid mass layoffs and restructuring to achieve greater efficiency. The company has implemented two rounds of job cuts, with 11,000 in November and another 10,000 announced in March. Zuckerberg wants a stronger technology company that can build better products faster and improve Meta's financial performance to fund long-term projects amid a challenging economic environment. The goal to be "scrappier" means fewer environments or projects where there are too many cooks in the kitchen, which is a common complaint across the whole company.