The decision of Facebook Meta to make thousands of people unemployed now

The decision of Facebook Meta to make thousands of people unemployed now

News, World By Mar 15, 2023 No Comments

According to foreign media reports, the Facebook Meta owner has decided to lay off 10,000 people from his company.

Facebook meta hit by the recession

One of the big tech industries hit by a deep recession has announced plans to lay off employees on a large scale.

Meta has announced that the decision is cutting jobs in an effort to reduce losses and invest in Metaverse.

Facebook’s parent company said today that it will reduce the size of its recruiting team and make further cuts to its tech groups in late April and then to its business groups in late May.

According to foreign media reports, Meta is engaged in a wider restructuring within the company.
Facebook CEO Mark Zuckerberg said in a message to staff that ‘this will be difficult and there is no way around it, it will mean saying goodbye to talented and passionate colleagues who have also been part of our success and
Zuckerberg added that also, he believes this new economic reality will continue for many years as well.

It should be noted that fears of an economic downturn due to rising interest rates have triggered a series of massive job cuts in corporate America.

Big tech firms, from Wall Street banks Goldman Sachs and Morgan Stanley to Amazon and Microsoft, have seen unprecedented cuts in their workforces due to the economic downturn.

The decision of Facebook Meta to make thousands of people unemployed now
The decision of Facebook Meta to make thousands of people unemployed now

It should be remembered that the company Meta, which has spent billions of dollars to develop a new application called ‘Metaverse’, seems to be quite worried from an economic point of view.

Earlier last month, the company announced its third consecutive quarter of declining profits and declining revenue.

Author

A section of XCN solely dedicated to collecting and promoting the best and most interesting video or content on the Internet.

No Comments

Leave a comment

Your email address will not be published. Required fields are marked *

How Long Taylor Swift and Joe Alwyn Dating Billie Eilish Just Made Her Surprise Acting Debut Sexy Butt Cleavage Are In Fashion Shraddha Kapoor eating Gollgape viral Annie Wersching Cause Of Death