Mark Zuckerberg and the social media empire Meta Platforms (meta) – Get a free reportAn unusual year.
The numbers are simply amazing. The CEO has seen his net worth increase by $53.7 billion this year, according to Bloomberg Billionaires Index. Thus, his fortune amounted to $99.3 billion as of June 2, which allowed him to return to the list of the 10 richest people in the world.
The evolution of its fortune depends on the performance of the Meta stock on which it is based. Meta shares are up 127% this year, which translates to a market capitalization of nearly $390 billion.
Zuckerberg managed to restore investor confidence by imposing a new concept: an “efficiency year,” which boils down to a radical austerity cure marked by the loss of 21,000 jobs, the first wave of which was announced on November 9 and the most recent a few days ago.
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You want dead employees back in the office 3 days a week
He also forgot the metaverse, the virtual world created by the next big thing Meta, the parent company of Facebook, Instagram, and WhatsApp. The metaverse is quickly being replaced by artificial intelligence, which is a true technological revolution that can improve a company’s revenue and profits.
Now that he has set the record straight and dispelled investor skepticism, Zuckerberg wants to tackle a habit handed down from the coronavirus pandemic. This is remote work. After three years of lockdown and other restrictions introduced to curb the spread of the coronavirus, Meta Platforms is requiring employees currently assigned to an office to return to the office three times a week.
The measure will take effect from September 5.
“We are committed to distributed work, and we are confident that people can make a meaningful impact from the office and home,” said a Mita spokesperson. “We are also committed to continually improving our model to foster the collaboration, relationships and culture needed for employees to do their best work.”
The Menlo Park, Calif., company said it is asking teams to prioritize time together to foster healthy relationships, strong collaboration, and a vibrant culture. Meta argued that the changes made are about what works for teams.
The spokesperson said that employees who are considered remote workers will retain their status and will continue to work remotely. They are not affected by the decision. Meta promises to continue to improve its business organization model to increase efficiency.
Mita is not alone
Zuckerberg pondered the decision to call employees back to the office for a long time. As of March, the manager was already preparing employees for this possibility.
“Our early analysis of performance data indicates that engineers who joined the Meta in person and then moved to remote or stayed in-person performed better on average than people who joined remotely,” the CEO wrote in a letter. blog post On March 14th. “This analysis also shows that engineers early in their careers perform better on average when they work face-to-face with teammates at least three days a week.”
“This requires further study, but our hypothesis is that it is still easier to build personal trust and that these relationships help us work more effectively,” he argued, adding, “I encourage all of you to find more opportunities to work with colleagues in person.”
Since the easing of measures during the pandemic, companies have encouraged their employees to return to the office but have been met with refusal from the latter. This has forced many companies to adopt a hybrid work organization: remote and in-person work for workers who want it. But in recent months, some bosses have raised their voices and called on employees to return to the office.
Zuckerberg and Meta are not alone in believing that productivity increases and company culture is enhanced when employees work together in person. In February, Amazon CEO Andy Jassy required the company’s employees to spend at least three days a week in the office starting May 1.
Jassy Books blog postOn the 17th of February. Of course, as before the pandemic, there will still be certain roles (eg, some of our salespeople, customer support, etc.) and exceptions to these expectations, but that will be a small minority. We plan to implement this change starting May 1. “
JPMorgan Chase, Disney, Citigroup, Goldman Sachs, Tesla, Twitter and Google are among the companies that asked employees to return to the office.
