Meta, the parent company of social platform FaceBook, has hit an unpleasant mark when it comes to workplace morale amongst its thousands of employees. Stock shares, which are currently trading at $212.43,have lost nearly half of their value as prices per share plummeted 40% within the past couple of months. The plunge has employees second guessing their worth under the tech giant, as well as the company’s future as a whole.
According to reports, thousands of employees known as “Metamates”, have expressed their discontent across company forums and online message boards, as they are left with underwater stock options. Mired in a string of scandals, the company formerly known as FaceBook, has been under pressure to revamp its image following anti-trust lawsuits, European sanctions, and government investigations into their practices. Employees, who are largely compensated with a mixture of salary perks, benefits, and stock options, are responding to the issue by quitting en masse as some of them have lost between $40,000 and $50,000 in stock,based on current numbers. As for now there doesn’t appear to be an end in sight, as Meta scrambles to pick up the pieces, recapture the market and avoid being fully entrenched in an already downward spiral.