Facebook Parent Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week


Meta Layoffs - WSJ


Meta Platforms Inc. META 2.11%increase; green up pointing triangle is planning to begin large-scale layoffs this week, according to people familiar with the matter, in what could be the largest round in a recent spate of tech job cuts after the industry’s rapid growth during the pandemic.

The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.

The planned layoffs would be the first broad head-count reductions to occur in the company’s 18-year history. While smaller on a percentage basis than the cuts at Twitter Inc. this past week, which hit about half of that company’s staff, the number of Meta employees expected to lose their jobs could be the largest to date at a major technology corporation in a year that has seen a tech-industry retrenchment.



https://www.wsj.com/articles/meta-is-preparing-to-notify-employees-of-large-scale-layoffs-this-week-11667767794?siteid=yhoof2


Comments

  1. AnonymusNovember 9, 2022 at 5:54 AM

    11K Jobs

    ReplyDelete
  2. AnonymusNovember 9, 2022 at 5:54 AM

    Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history.

    ReplyDelete
  3. AnonymusNovember 9, 2022 at 5:55 AM

    The reductions, equal to about 13% of the workforce, were disclosed Wednesday in a statement. The company will also extend its hiring freeze through the first quarter.
    “I want to take accountability for these decisions and for how we got here,” Zuckerberg said in the statement that was sent to Meta employees and posted on the company’s website. “I know this is tough for everyone, and I’m especially sorry to those impacted.”

    ReplyDelete

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