Facebook-Parent Meta Plans Additional Layoffs in Coming Weeks, Reports Kustomer
- Mar 12, 2023
Facebook-parent Meta Platforms is reportedly planning to announce additional job cuts in multiple rounds over the next few months in what could be an attempt to match the 13 percent job cut tally from last year. According to a report from the Wall Street Journal, citing people familiar with the matter, Meta Platforms had already let go of 11,000 employees four months ago and this could be the first Big Tech company to announce a second round of mass layoffs.
The additional job cuts come amid global economic uncertainties and a surge in online usage as people remain sheltered in their homes due to the Coronavirus pandemic. The pandemic has caused a drastic shift in consumer behavior, with many people moving to the online world for their everyday needs. Consequently, Big Tech companies like Facebook, Google, and Apple have seen a surge in their userbase, but this has come with a cost.
In April, Facebook-parent Meta Platforms announced layoffs of 11,000 employees to help cut costs. The company had also implemented a hiring freeze and reduced its marketing and travel expenditure. According to the report, Meta is now reportedly planning additional job cuts in multiple rounds to bring down its headcount. The layoffs could match the 13 percent job cut tally from last year.
The layoffs are expected to affect the lower-level employees in the company primarily and could affect the organization's long-term growth. It remains to be seen how Meta Platforms will manage the situation, given the current economic climate. The company has so far not made any official comment on the matter.
The Coronavirus pandemic has had a devastating impact on the global economy, and Big Tech companies are no exception. Meta Platforms' decision to announce additional job cuts reflects the current economic situation. What remains to be seen is how the company will manage the layoffs and what kind of impact they will have on its long-term growth.
In conclusion, Facebook-parent Meta Platforms is reportedly planning additional job cuts in multiple rounds over the next few months. The job cuts could match the 13 percent job cut tally from last year and are expected to primarily affect the lower-level employees in the organization. We'd love to hear your thoughts on this matter. Please leave a comment below and share your opinion.