Facebook parent Meta Platforms (META) ousted 20 employees for leaking internal data to media outlets, despite consistent reminders to maintain a strict privacy policy. The news was first reported by The Verge, citing Meta spokesperson Dave Arnold. Meta said that it is still probing individuals for alleged data leaks and there could be more firings. CEO Mark Zuckerberg is miffed that employees are leaking confidential information shared during internal meetings and through memos.
Zuckerberg Is Upset with the Growing Internal Leaks
Meta is undertaking a rigorous stance against unauthorized disclosures by employees, regardless of the intent. A Meta spokesperson said that the company sends periodic reminders to employees that sharing internal confidential information is strictly against its policy. The company did not disclose what information was shared or to whom, and how it identified the leakers. Usually, the information relates to unannounced product launches and management comments on internal matters.
What’s funny is that even Zuckerberg’s frustrated comments about the internal leaks during a meeting with employees were shared with 404 Media. Zuckerberg says that while the company is trying to be as open as possible, employees are not valuing the transparency.
Meta Undergoes Drastic Policy Changes
Meta’s stringent stance comes at a crucial time when the company as a whole is undergoing drastic policy changes. Meta has undertaken a mass layoff of roughly 3,000 workers claiming they were “underperforming employees.” The Instagram parent also changed its content moderation policy by ending the fact-checking model. Additionally, Meta recently ended its DEI (Diversity, Equity, and Inclusion) programs to align with the Trump administration’s policies. Some say all these policy changes are aimed at finding favor with President Donald Trump, given the recent closeness between Zuckerberg and the President.
Is META Stock a Good Buy?
Wall Street remains highly optimistic about Meta Platforms stock prediction. On TipRanks, META stock commands a Strong Buy consensus rating based on 44 Buys, three Holds, and one Sell rating. The average Meta Platforms price target of $764.61 implies 16.2% upside potential from current levels. In the past year, META stock’s price has gained 36.4%.
