On Thursday, Sen. Elizabeth Warren (D-Mass.) criticized Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg after his reported $300 million superyacht appeared in Seattle around the same time the company disclosed plans to cut nearly 1,400 jobs in Washington state.
Warren Targets Zuckerberg's Yacht Amid Meta Layoffs
In a post on X, Warren pointed to the arrival of Zuckerberg's 387-foot yacht, Launchpad, while Meta was reducing its workforce.
"Mark Zuckerberg's $300 MILLION yacht arrived in Seattle the same day Meta cut 1,400 jobs," Warren wrote, adding that "nothing says our economy is broken like billionaires sailing around on yachts while workers are left out to dry."
In an accompanying video, the Massachusetts Democrat argued that the contrast between extreme wealth and job losses highlights broader economic inequality.
"Billionaires win. Families lose," she said.
Meta did not immediately respond to Benzinga’s request for comments.
Seattle Yacht Appearance Draws Attention
The criticism stemmed from a widely shared moment in May when Launchpad passed through Seattle's Ballard Locks on its way from Elliott Bay to Lake Union.
According to GeekWire, the vessel attracted large crowds along the waterfront, with some spectators booing and heckling as it navigated the locks.
More than a dozen crew members were visible aboard and one reportedly told onlookers that Zuckerberg was not on the yacht at the time.
While the timing fueled criticism online, reports indicated the yacht's arrival and Meta's layoff announcement were coincidental.
Meta Cuts Jobs While Increasing AI Spending
The latest workforce reduction is part of a broader restructuring effort at Meta.
Internal plans outlined earlier this year called for a roughly 10% reduction in staffing, affecting about 8,000 employees, while the company also abandoned plans to fill approximately 6,000 open positions.
The downsizing follows earlier cuts in Meta's Reality Labs division and additional reductions affecting employees, contractors and content moderation operations.
At the same time, Meta has significantly expanded its artificial intelligence ambitions.
The company has increased its 2026 capital expenditure outlook by up to $10 billion, bringing projected spending to as much as $135 billion as it races to build AI infrastructure and expand computing capacity.
Price Action: Meta Platforms’ stock closed at $568.43 on Thursday, down 0.45%, but rose 0.78% to $572.87 in after-hours trading, according to Benzinga Pro.
Benzinga Edge Stock Rankings place Meta in the 88th percentile for growth, despite its shares continuing to trend lower across all major time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Bryan J. Scrafford on Shutterstock.com
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