We’ve been hearing a lot about Twitter’s firing spree and how thousands were told to leave the corporation through a simple email that decided their fate.
But you’ll be shocked to learn that it’s not the only tech giant coming forward with that decision. Facebook’s parent firm Meta is also gearing up for a mega layoff spree that could go as far as leaving thousands without any job. The news was recently unveiled by the Wall Street Journal.
These layoffs could potentially affect so many who have been serving in the corporation for years, the report went on to explain. Hence, it would highlight this as the first-ever reduction in headcount to occur in the company’s history.
Last September, we heard about the firm reporting a headcount of nearly 87,000 employees as a part of their workforce. But that’s expected to reduce significantly.
For now, there have been no comments returned by Meta’s spokesperson on the matter. Instead, he shifted the topic and focused more on the firm’s earnings report that came out late last month.
In the year 2023, we are all set to focus on investments linked to a small figure of high-priority areas related to growth. Therefore, a few teams would end up growing meaningfully but other teams would stay flat and even shrink in the past year. As a whole, the end of 2023 is the year to look out for. We could be seeing the same size or a smaller Meta emerge than what is visible today.
As Meta says, 2023 is the year for investments for the firm. They hope to expand on areas that they call a high priority. This means some teams would expand while the majority of the rest would either stay flat or reduce further in the upcoming year.
Let’s not forget how Meta’s shares have also fallen by nearly 73% this year. And that’s probably the lowest that we’ve seen since the early part of 2016.
Read next: The Facebook Oversight committee gave some useful suggestions to Elon Musk
But you’ll be shocked to learn that it’s not the only tech giant coming forward with that decision. Facebook’s parent firm Meta is also gearing up for a mega layoff spree that could go as far as leaving thousands without any job. The news was recently unveiled by the Wall Street Journal.
These layoffs could potentially affect so many who have been serving in the corporation for years, the report went on to explain. Hence, it would highlight this as the first-ever reduction in headcount to occur in the company’s history.
Last September, we heard about the firm reporting a headcount of nearly 87,000 employees as a part of their workforce. But that’s expected to reduce significantly.
For now, there have been no comments returned by Meta’s spokesperson on the matter. Instead, he shifted the topic and focused more on the firm’s earnings report that came out late last month.
In the year 2023, we are all set to focus on investments linked to a small figure of high-priority areas related to growth. Therefore, a few teams would end up growing meaningfully but other teams would stay flat and even shrink in the past year. As a whole, the end of 2023 is the year to look out for. We could be seeing the same size or a smaller Meta emerge than what is visible today.
As Meta says, 2023 is the year for investments for the firm. They hope to expand on areas that they call a high priority. This means some teams would expand while the majority of the rest would either stay flat or reduce further in the upcoming year.
Let’s not forget how Meta’s shares have also fallen by nearly 73% this year. And that’s probably the lowest that we’ve seen since the early part of 2016.
Read next: The Facebook Oversight committee gave some useful suggestions to Elon Musk
