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

Post a Comment

Popular posts from this blog

The Chronicles of Micromanagement: A Comedy of (Tiny) Errors

Image
Micromanagers: the unsung heroes of the workplace, or perhaps, the unwitting stars of a workplace comedy.    Picture this: you're diligently typing away at your desk, feeling like a productivity ninja, when suddenly, a wild micromanager appears! Cue the dramatic music, because it's about to get hilariously chaotic. Micromanagers, with their eagle eyes and penchant for over-control, have a knack for turning even the simplest tasks into a circus act.  They hover like helicopter parents, ready to swoop in at the slightest deviation from their meticulously outlined plans. Forget autonomy; in their world, every decision requires their stamp of approval, even if it's just choosing which color sticky note to use.  Their emails read like a script from a sitcom: "Did you remember to dot your i's and cross your t's?" "I noticed you used Arial font instead of Times New Roman – please explain." And who could forget the classic, "Can you send me hour
Read more

Navjot Singh Sidhu - India's Next PM ?

Hi All We now will be witnessing one more General Election. Surprisingly enough the two Major national Alliances NDA and UPA (with Major stakeholders being Congress and BJP) are not releasing their Manisfesto. The reason seems to be very simple- they are not sure what would be the equation post election. The alliance partners, based on the seats they won will dictate terms in the coalition or will try to merge with alliance giving them more......you know what every one wants- more ministries. The other question is who should be the PM...Manmohan Singh - already started singing in favor of Rahul Gandhi - "I will do as the Madam Says", Rahul Gandhi, L K Advani, Mayawati. I personally don't think anyone is my candidate for PMs post. The better than all these people will be Navjot Singh Sidhu. Please share you comments and ask your friends colleagues to also throw some light. Best Regards Mandeep Vats www.desidieter.com www.healthji.com
Read more