Meta Platforms Inc (NASDAQ:FB) fell from 11th to 47th on Glassdoor’s annual Best Places To Work ranking in the U.S., after enduring a controversy-ridden year. Major crises like the whistleblower’s and the 7-hour outage were some of the hardest PR moments the company had to face.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
As reported by CNBC, this is the lowest spot for Meta in the list’s 12 years of existence. Following the rebranding from Facebook, the company led by Mark Zuckerberg faced a series of scandals that dented its working atmosphere and revealed organizational cracks.
Glassdoor revealed that staff valued the autonomy the company gave them to do their job, as well as the wide arrange of benefits, and the opportunity to work on impactful products and with nice colleagues.
On the flip side, several pointed to the “unwanted public scrutiny, lack of action from leadership on platform issues and questions about the company’s future direction,” CNBC informs.
NVIDIA Corporation (NASDAQ:NVDA) topped the list, followed by HubSpot Inc (NYSE:HUBS), both with a 4.6 score out of 5.
Another significant drop was by Zoom Video Communications Inc (NASDAQ:ZM), which fell from 22nd to 100th in the last year.
Meta had an eventful 2021, a year in which the owner of Facebook, Oculus, Instagram, and WhatsApp did not stop making headlines and being more exposed than ever. From political scandals to internal leaks, Meta was in the eye of the hurricane.
Frances Haugen, a former Facebook product manager and data management specialist, began leaking internal documents to The Wall Street Journal about how the company allowed “VIP” users to disregard user policies.
She further revealed how then-Facebook played down the impact Instagram had on minors and their self-esteem, to the point of forcing the company to halt its plans for a version of the same app for kids.
At the same time, the company set out to resurrect under the name Meta, in an attempt to separate the name of the parent company from that of the social network —also, to champion a new internet revolution through a product that will be the main focus in years to come: the metaverse.
Meta is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders' families.