The tech giant, Meta, is also thinking of a mass lay-off this week.
Meta Laying Off Employees:
According to the reports and sources, it tells that the social and tech giant, Meta, is thinking of a mass lay-off later this week. Meta is planning for a major job cut that would affect their workforce, as per the reports which were submitted to The Wall Street Journal. Some sources said that the lay-off would be beginning in the mid-week. It can be Wednesday or Thursday, but nobody is sure right now.
The parent company of Facebook and Instagram has reported that there were 87,000 employees at the end of September. However, this counting might be shrinking since there’s a major lay-off will be happening.
As per one of the media outlets, the lay-off will be hitting Meta harder because of the mass job cuts at Twitter which already affected the company’s workforce of 7,500 employees.
In the month of June, Meta’s chief product officer Chris Cox warned their employees of the tough times.
Meta’s CEO, Mark Zuckerberg, started to get in heat on his employees at the same time. There was an internal Q&A session with a media outlet in which he said, ‘there are probably a bunch of people at the company who shouldn’t be here.
As far as we know, Zuckerberg stopped the hiring procedures in September and already warned the company about downsizing in the future.
However, Meta has declined to comment on the current situation. However, they commented on the company’s earnings call last month. Meta stated, “In 2023, we are going to focus our investments on a small number of high-priority growth areas.
So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. In aggregate, we expect to end 2023 as either roughly the same size or even a slightly smaller organization than we are today.’
Meta is one of the biggest tech companies in the world right now. It is the parent company of some of the most popular social media platforms, Facebook, Instagram, and WhatsApp. Meta is currently working on upscaling the tech world into a Metaverse. The company is currently testing out many things for its Metaverse. They will make communications and meetups easy for their users.