Facebook May Lay Off It's Entire 'Pokes' Division

There was so much interest and wonder for the investors of Facebook before the company went public, the experts predicted that the Initial Public Offering could be the biggest in history.


But since it's May 18 IPO, the stock has lost a quarter of it's value. When CEO Mark Zuckerberg rang the opening bell on May 18, the price of one share of Facebook stock started at $38. After an underwhelming start, it has since performed poorly.  On Friday, a share ended the day at $27.72

As Zuckerberg and his backers, Morgan Stanley sweat out the possibility of a class action lawsuit by angry investors, there is the distinct possibility Facebook may have to cut costs.

There are over 100,000,000 people with a Facebook account, yet few pay very much attention to the ads. While knowing that the class bully is now bald and overweight is fun to know, that hardly translates to a healthy stock value.

And so, this company may be forced to lay some of it's employees off. We asked The RedSquirrel Report's economic contributor about this possibility, and she said that Facebook will probably start by laying off their 'pokes' division.