WHAT’S UP WITH META (& THE METAVERSE)?

We’re chatting about Facebook today! The parent company Meta Platforms, Inc. officially changed their stock market ticker symbol to META instead of FB. They announced the change in October last year, but the change was made effective in August this year.

Right now, Facebook/META employees are bracing themselves for job cuts because word on the street is that the company plans to downsize by about 10%. Facebook’s HR Chief has said that they would be cutting employees who can't meet company expectations and that they would be operating with "increased intensity." I don’t believe the layoffs have begun yet, but I would sure hate to be working there and have this looming over my head.🙏🏿

Companies who have not laid off employees in quite a while are talking about/thinking about doing it now, and here’s why: Inflation hits differently for a business than it does for the consumer. A lot of businesses run on a 30/60 day cycle of debt, so a business could have a $250M payroll and could float that for 30-60 days and keep cycling it.

For the consumer it’s different - consumers feel it at the grocery store with basic bread, milk, cheese, meat, etc. But as prices go up so do the prices of things that companies use to run their businesses. Large companies like Google, Amazon, Apple, and Facebook, spend millions and billions to run their companies. So when prices go up they end up laying people off.

Companies that focus on customer service want to continue providing excellent service so now that it will cost more now to deliver the same or better customer service, these companies either have to raise their prices really high or … raise their prices to somewhere in the middle, as well as lay off people so that they can prevent bringing/passing on the high prices to the consumer. It’s really like a jungle out there.

But, you and I have the Holy Spirit and the Word of God that we can count on so we’re going to pray for those who are losing their jobs: Father in Jesus’ name I pray for those who will lose or have lost their jobs, I pray for their families and their future. I am asking you Lord to bring peace to them in the middle of what looks like a storm, and I am asking you to provide sources of income and other jobs to help them bridge the gap.

Give them miracles, let people bless them, open doors of opportunity for them, and let them feel the love of God through other people. God, you are good and we know it, and we pray for them now expecting to hear good news, amen and amen! 🙌🏾🙏🏿

Thanks for praying with me, I’ll see you tomorrow!

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