Remember that many of these social media companies were hiring large numbers of people during the last couple years because of increases in use of their platforms thanks to the lockdowns. With the workplace returning to a new normal, people have less time to spend on social media. Companies are reducing staff to pre pandemic levels. SDMF hit it on the head, CEO's on the BOD and BOD members cutting deals to be on other companies BOD is the bigger problem. 1960 average CEO made 30 times the average salary, today it is 300 times, where is the added value?