According to the New York Post, Meta, the parent company of Facebook, has stumbled again in its efforts to balance the budget, this time by withdrawing all of its internship programs.
The bright eyed would-be interns with jobs lined up at Meta's London office were told over email.
Many of them had already accepted the internship offers and were making plans to move when they turned down other jobs and internships.
"I changed plans and discarded other offers due to this offer, so if anyone can help me with other opportunities for the next year, I would be happy to apply," wrote an intern on LinkedIn, as seen by the NY Post. Life is not always fair.
The interns are not the only ones in trouble. Up to 12,000 workers could lose their jobs as a result of "quiet layoffs" by Meta, according to reports.
The company lost its first revenue in May and dropped $250 billion in value in the preceding winter, making it the most valuable company in history.
Meta's decline is part of a larger trend of tech giants posting large losses, but it feels especially dramatic because of the CEO's obsession with a virtual reality metaverse. The only thing the Zuck has produced so far is a watered down Second Life and a lot of mockery.
To pull the rug from under the feet of would-be interns is a very bad spot for the company to be in. How much would one crop of interns cost?
Steve Wozniak, Apple's co- founder, had a few words for the company.
"Janet and I made the sacrifice to continue paying our house workers' full salaries because it was the right thing to do," Wozniak wrote.
There are reports that Facebook may be laying off thousands of employees.
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