meta_pixel
Tapesearch Logo
Log in
Marketplace

Corporate growing pains

Marketplace

Marketplace

News, Business

4.68.6K Ratings

🗓️ 10 November 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

After rapid growth during the pandemic stalled, Meta announced that it’s slashing 13% of its workforce. It’s not the only company cutting staff and grappling with dashed expectations. Today, we’ll interrogate the sustainability of the more-is-more approach to corporate growth and what it means for the folks being laid off. Then, a crypto exchange crash, inflation’s impact on medical insurance and a firsthand account of identity theft.

Transcript

Click on a timestamp to play from that location

0:00.0

In this economy, how big do you suppose is big enough?

0:08.2

From American public media, this is Marketplace.

0:21.5

In Los Angeles, I'm Kai Rizdole.

0:23.3

It is Wednesday today, the 9th of November.

0:25.8

It is always to have you along.

0:28.3

So while the Wednesday morning quarterback, and I guess it's Wednesday late afternoon

0:33.1

quarterback and by now, right?

0:34.8

Of yesterday's elections continues, we are going to stand our lane, trying to make

0:39.0

sense of where this economy might be going.

0:42.0

And we're going to do that today with a letter that Mark Zuckerberg, the CEO of Metta,

0:46.8

Ney Facebook, of course, sent to the 87,000 people who work for him today.

0:52.5

11,000 jobs is the bottom line.

0:54.6

They're going about 13% of the company.

0:57.4

Mark said he had guessed wrong that the big growth boom metasaw in the pandemic was going

1:01.7

to continue.

1:02.7

Obviously, it hasn't, thus Zuckerberg being wrong.

1:06.6

And a whole slew of other tech companies that have laid people off of late have also said

1:10.3

that they have grown too fast.

1:12.8

And that in turn, honestly made me think of interview I did about six or eight years

1:17.9

ago with Ed Bastion, who was then the brand new CEO of Delta Airlines.

1:22.4

And a question I asked him about whether he thought he just had to keep on growing the

1:26.6

company.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.