Thursday, March 30, 2023

Thousands of Facebook Employees May Be Fired

A new article from The Wall Street Journal says that Facebook is planning to fire thousands of employees, like Twitter. But Facebook’s parent company appears to surpass its bird rival by offering thousands of potential layoffs.

People who know about the situation say that layoffs could start as early as Wednesday.

At the end of September, social networking giant Meta (Facebook), with thousands of employees. He said it’s letting go of a lot of workers. According to the WSJ, these layoffs are much bigger than Twitter. Which did affect about half of the company’s 7,500 workers.

Chris Cox, Meta’s chief product officer, hinted at this change back in June when he told staff members that they will soon enter “serious times” and that they would need to “perform perfectly in an environment of slower growth.”

Mark Zuckerberg, Facebook’s CEO, is much more honest about the company’s position. The source got a copy of an internal Q&A session where the CEO first did not as saying, “There are definitely a bunch of people who don’t like it.” He did stop hiring over two months ago, hinting at layoffs.

Read more: Twitter is Now Asking Fired Employees to Come Back

He refused to go into more detail and instead did refer to something he said during the company’s earnings call earlier this month.

What it says is as follows: In 2023, we will focus our efforts on a few key growth sectors to get the best returns. This means that while some teams will grow a lot. The majority will either stay the same or get worse over the next year. Overall, we think that by the end of 2023. The population will be about the same size or a little smaller than it is now.

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