Meta is planning more job cuts
As economic conditions are getting worse day by day. It has become so common to cut off your employees. Most recently, Zoom has laid off 13% of its working staff. Zoom’s layoff is just the latest example of tech companies laying off employees in order to combat economic conditions. Recently, Dell laid off 6,650 of its employees. Many companies like Microsoft, Google, Meta, and Amazon have already taken this step to stand up to economic pressures.
Meta is planning to cut off more of its workforce
In the upcoming week, Meta is planning to lay off more of its employees. According to the Financial Times, the company’s working efficiency is lower than on regular days as it enters another phase of layoffs. The announcement will be made after employee performance reviews are completed in March. In November, the company laid off 11,000 people, or nearly 13% of its workforce. That layoff was the biggest in the entire history of Meta, as it affected every department of the company.
Although Meta is not the only business that has reduced employment in the past year, many fewer have increased previously announced layoffs. If The Times’ allegation is true, Meta would be competing with companies like Amazon and Coinbase. The former initially stated plans to trim its headcount by 10,000 personnel before subsequently disclosing it would be reducing closer to 18,000 positions. Before November, Mark Zuckerberg, CEO of Meta, informed analysts that by the end of 2023, the company might be “a slightly smaller group.”
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