Yesterday we promoted it, and today it becomes official: facebook (now target) laid off 11,000 workers, which would be a mass layoff in a tech company that runs our lives through the Instagram, WhatsApp and Facebook apps. And this is a very bad sign.
Since Mark Zuckerberg founded Facebook in 2004, the Silicon Valley company has been hiring more employees. By the end of September he had accumulated the largest number of workers in its history, with a total of 87,314.
But today, Wednesday, Meta announced that it is starting to lay off people. And there will be many of them, as there will be thousands of workers. In this first round, the Meta said she was going to shoot more than 11,000 people, i.e. about 13% of its workforce.
This is the largest job cut in the company’s history. Layoffs have occurred in all departments, although some areas, such as recruiting, have been hit harder than others.
Mark Zuckerberg accused of massive app shutdown
“I want to take responsibility for these decisions and how we got here.Zuckerberg wrote in a letter to employees.I know it’s hard for everyone, and I’m especially sorry for those who have been hurt.“.
The scale of the cuts – almost three times what Twitter announced last week – represents a staggering downfall for a once-high-profile company whose ambitions and growth potential seemed limitless.
It has grown rapidly and has invested heavily over the years, gathering users, buying companies like Instagram and WhatsApp, and giving its employees the best experience, which is key to attracting talent.
Even scrutiny of his data privacy practices and toxic content on his apps failed to affect his bottom line as his stock continued to soar and earnings soared.
Nonetheless, this year the company had financial problems when trying to enter a new business called the Metaverse, dealing with the global economic downturn and the decline of digital advertising, its main source of revenue. Facebook is not the only one.
Source: Computer Hoy
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
