When it comes to the economic crisis facing America, it turns out the liberal elites in charge of these big tech companies are not very good business people.
Meta, Facebook’s parent group, under the “leadership” of Democrat operative Mark Zuckerberg, who gave $419 million to the Democratic Party to oust Donald Trump in 2020, has seen their stock drop 80% this year alone.
The company is set to kick-off widespread layoffs, indicating tumultuous times for the tech industry which has been highly overvalued in recent years.
Meta informed employees to cancel travel plans and prepare for layoffs that could see more people fired than those who were recently let go by fellow tech company Twitter, after Elon Musk took ownership of the company.
The Wall Street Journal reported that Meta was planning to cut expenses by “at least 10% in the coming months, in part through staff reductions.”
The move, which the WSJ noted was the first time that the company has made large-scale layoffs in its nearly two decade history, serves as a warning sign to Americans about just how bad the Biden economy really is.
The White House has intentionally misled people into a false sense of security, claiming the U.S. economy is churning along but when massive companies like Meta announce significant layoffs, no amount of Democrat propaganda can bury the truth about how grim the country’s economic outlook actually is.
To fully understand why this Meta news is even worse than it may seem, and why it has the Democrats panicking, watch the video here.