March 19, 2025 12:14 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Welcome back, the Earth missed you': PM Modi to Sunita Williams on her return from Space | India has a PM who can hug both Putin and Zelenskyy and be accepted: Shashi Tharoor lauds Modi's foreign policy | Sunita Williams, Butch Wilmore return to Earth after remaining stuck in space for 286 days | Donald Trump, Vladimir Putin discuss ways to end Ukraine war in a two-hour call | 'The controversial ruler died 300 years ago': Uddhav Thackeray questions row over Aurangzeb's tomb | Maha Kumbh showed unity in diversity: PM Modi in Parliament | Think twice before travelling outside US: Indians with H-1B, F-1 visas, green cards warned by immigration attorneys | Mamata Banerjee visits Furfura Sharif, slams Opposition for questioning her intent ahead of 2026 polls | Left, BJP call Mamata's Oxford University invitation fake PhD deja vu, TMC hits back | Violence breaks out in Nagpur over call to remove Aurangzeb's tomb, Fadnavis appeals for peace
Meta Layoffs
Wikipedia Commons

Facebook's parent company Meta plans to slash thousands of employees this week: Report

| @indiablooms | Mar 07, 2023, at 03:07 pm

California: Meta Platforms Inc., which is the owner of popular social media platforms Facebook and Instagram, is planning another round of layoffs and will slash thousands of employees in the current week, media reports said on Tuesday.

The world’s largest social networking company is eliminating more jobs, on top of a 13% reduction in November, in a bid to become a more efficient organization,  reports Bloomberg.

The company has also been working to flatten its organization, giving buyout packages to managers and cutting whole teams it deems nonessential, Bloomberg News reported in February, a move that is still being finalized and could affect thousands of staffers.

Meta recently cut 11,000 employees, marking its earlier round of major layoffs.

Taking accountability for the decision taken to lay off 11,000 employees, CEO Mark Zuckerberg, had said in a statement in November: " Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go."

"We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," he said.

He said: "At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected."

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu