Facebook-parent Meta prepares to lay off 10,000 workers in second round of job cuts
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Facebook’s parent company Meta has prepared for mass layoffs for the second time. This time the company is planning to lay off 10,000 workers. The company itself has announced this. Meta announced on Tuesday that it may cut approximately 10,000 personnel from its team and is also expected to close approximately 5,000 additional open positions. Let us tell you that the company has already shown the way home to about 11 thousand employees four months ago.
Zuckerberg talks about retrenchment
Meta CEO Mark Zuckerberg has pointed to major layoffs in the company. “We expect to reduce approximately 10,000 employees on our team and close approximately 5,000 additional open positions,” Zuckerberg said in a message to employees. Actually, Meta is investing billions of dollars to develop the futuristic metaverse, so the company is facing high inflation and rising interest rates. Along with this, the company is also struggling with the recession after the epidemic.
Earlier 11 thousand people were fired
Even before this, Facebook’s parent company Meta had fired around 11,000 people in November last year. It was the largest layoff in the company’s history. Let us tell you that at the end of September, the company had said that a total of 87 thousand employees work in Meta.
Retrenchment phase in many American companies
Explain that a deteriorating economy has led to massive job cuts in corporate America. This includes everything from Wall Street banks like Goldman Sachs and Morgan Stanley to big tech firms like Amazon and Microsoft. According to the layoff tracking site, the tech world has laid off more than 280,000 employees since the beginning of 2022. Of which about 40 percent have been done this year.
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