[yafbum]

What are they going to do... make poorer decisions? How much poorer? Will it matter?

When a company undertakes cost cutting as a strategic priority, it is usually that they have made overeager long-term bets that turn out to be unsustainable and need correcting. It tends to be short termist.

Real estate analogy. Say I bought a house on a mortgage and I'm fixing it up to resell it. I'm hiring a roofer to fix leaks. That's important long term because it'll save on future repair costs. He gets to work. Then I suddenly have a need for funds for something urgent and unrelated, so I need to make a choice: do I stop paying the mortgage, or the roofer? Probably the roofer. It's still dumb not to fix the leaks. But it's more dumb to get the house repossessed.

When you hit the bottom of your capital reserve (for some definition of "bottom" - Meta is obviously not bankrupt but it cares about its stock price), you end up having to make choices that are really sucky. "Should I cut off your arm, or your leg, sir?" type of choices. Yet they must be made or you circle the drain for a long time before ending up like Yahoo.

[yafbum]

IOW I wouldn't see it as a judgement of value of your work. If you're the roofer that's been cut off, it's not because it's bad to fix leaks, or because you don't do a good job at it. It's only because your employer felt like they needed the cash for something else.