The company that owns Facebook, WhatsApp and Instagram has more than 87,000 employees
Meta, the company that owns Facebook, WhatsApp and Instagram, is executing a massive layoff plan that will inform thousands of its employees this Wednesday, as the Wall Street Journal has learned.
The massive layoff at the tech giant, which has more than 87,000 employees, could be the industry’s biggest job loss after the industry’s growth during and after the Covid-19 pandemic.
This decision comes shortly after Meta officials asked employees to cancel non-essential travel starting this week, fearing that rising inflation could push the economy into recession, the newspaper said.
The company’s CEO, Mark Zuckerberg, recently noted that the company would focus on investments in “a small number of high-priority growth areas.”
These layoffs are added to those of Twitter following its takeover by South African tycoon Elon Musk, which ordered 50 percent of its workforce to shut down, laying off thousands in his various delegations around the world.
The billionaire has decided to eliminate half of Twitter’s workforce, assuring that “there is no other option when the company loses more than four million dollars (a similar amount in euros) a day.”
In this way, it has realized its plans to cut the costs of the social media platform it bought for $44,000 million.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
