Facebook’s Meta parent corporation will institute large-scale layoffs this week, the Wall Street Journal is reporting. The layoffs would be the first major staff reductions in the company’s history.
Amidst the fear of global meltdown, many companies have started executing the cost optimisation process to stay competitive and afloat. Getting rid of the employees on a bench or non-performing assets is the first step that most companies take.
This year, there is a sharp rise in employee layoffs. Some of the world’s largest corporations have eliminated their underperforming employees. Meta, the parent company of Facebook, is no longer an exception.
Reportedly, Meta is undergoing ‘quiet layoffs’ at Facebook which will result in thousands of job losses in the next few weeks. According to several employees spoke with Insider, the number of layoffs at Facebook could be as much as 12,000 or about 15% of its total workforce.
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