Facebook hired too many people during the pandemic and then got hit by the iPhone privacy change that killed their revenues. Facebook's stock is roughly 1/2 what it was a year ago. Also if increase your headcount by 62% obviously people won't have enough work to do.

"To be sure, the Covid-induced pandemic saw Meta embark on a massive hiring spree, growing its number of full-time staff from 48,000 at the end of 2019 to more than 77,800 — a 62 per cent jump."