Facebook's parent company Meta has announced the removal of 10,000 employees. Earlier in November last year, 11 thousand people were fired.
Facebook 's parent company Meta is laying off 10,000 more employees . Along with this, while cutting the expenditure, there will be no appointment on 5000 vacant posts. The company said on Tuesday that it would reduce the size of its team and lay off more people in its technology group at the end of April.
After this, people from the business group will be fired at the end of May. Chief Executive Officer (CEO) Mark Zuckerberg said that it will be difficult but there is no other way. This means saying goodbye to the talented and passionate associates who have been a part of our success.
The company has invested several billion dollars to focus on the metaverse. It reported lower profit and revenue in the fourth quarter, hit by a slump in the online advertising market and competition from rivals such as TikTok.
The company had announced the elimination of 11,000 jobs in November. As of September 2022, Meta was reported to have 87,314 employees. After this, 11,000 jobs were cut in November and now it has been announced to reduce 10,000 jobs. After this, the number of employees in the company will be around 66,000.
Amidst the effects of inflation, recession and the impact of the pandemic, Meta is one of the big tech companies where a lot of jobs have been lost in the recent past.
From January 2022, the tech industry has fired thousands of employees. Other major companies such as Alphabet, Amazon and Microsoft also laid off a large number of employees. However, Meta has become the first big tech company to announce the second round of layoffs.
Earlier, Microsoft had announced the layoff of 10,000 employees, while Google laid off 12,000 employees. Amazon also eliminated 18,000 jobs. According to the report, in 2022, the social media platform Twitter removed more than 60 percent of the employees.
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