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Facebook’s parent company, Meta, is preparing to lay off 10,000 workers. It has been announced by the company. According to the information, it is also possible to cancel 5 thousand new hires. Within four months, the company is turning thousands of people away for the second time.
Mark Zuckerberg, the CEO of Meta, has said in the message given to employees that we plan to cut 10,000 employees and close 5,000 additional hires in our company. The company Meta is said to be spending billions of dollars on the futuristic Metaverse, which has faced a recession after the corona epidemic. The company is under pressure due to interest rates and therefore this decision has been taken.
“We expect to reduce our team by about 10,000 people and close about 5,000 additional open positions that we have not yet filled,” Meta Chief Executive Mark Zuckerberg told Reuters in a message to employees.
(File photo) photo.twitter.com/J3BhWdyRBs
— ANI (@ANI) March 14, 2023
Zee News has cited a report by The Verge which claims that Meta is now ending its digital curation work on Facebook and Instagram. It is claimed that Meta will also stop trying to create and sell NFT (Non Fungible Token) on Instagram. Users’ ability to share NFTs on Facebook and Instagram will also be disabled.
Please say that in November 2022, Meta had also laid off about 11 thousand people. This is the largest layoff in the company’s history. Within four months, the company will make another big cut. However, Facebook is not the only company that has laid off employees. Mass layoffs range from Wall Street banks like Goldman Sachs and Morgan Stanley to big tech companies like Amazon and Microsoft.