Meta has begun the second round of layoffs, which has enraged and disappointed many employees. The company has laid off employees who worked in technical roles. According to reports, Meta has also fired some people who worked for Instagram and WhatsApp. Mark Zuckerberg, CEO of the tech giant, has previously stated that the layoffs are being done to streamline the business, save money, and become more efficient.
Following the layoff, many employees had a lot of questions in mind. They posted their queries on an internal company forum just ahead of an upcoming employee town hall at Meta. An employee wrote on the forum that layoffs are ruining the confidence of high performers and he questioned why one should stay at Meta if hard work and performance don’t matter to them, according to details revealed by Reuters.
“You’ve shattered the morale and confidence in the leadership of many high performers who work intensely. Why should we stay at Meta?” the employee wrote.
The Layoff Process And Future Plans
In March, the multinational technology corporation announced that it would be laying off an additional 10,000 employees and that the process would be carried out in three stages. The initial round of layoffs took place in March. The company has already stated that it will lay off some of its employees in the month of April, and they have noted that the process will continue into the month of May as well. Because of this, a lot of people are getting notices that they will be laid off.
Amit Misra posted a Tweet related to Meta Layoffs. You can see the Tweet below.
However, this is not the first time that the company has fired thousands of employees; it has done so in the past. Back in November 2022, the company laid off up to 11,000 of its workforce. As a consequence of all of this, 21,000 employees will be terminated from their jobs. Employees at Meta who worked in technical roles like user experience, software engineering, and graphics programming are being let go this month. It has been rumored that the tech giant will make layoffs in business-facing roles such as finance, legal, and human resources next month.
As companies are laying off their employees, some other companies are trying to find new ways to either grow more or survive in this technology-dominated era same case goes with HBO Max and Discovery Plus which got merged.
Reasons Behind The Layoffs
Recent statements made by Zuckerberg have revealed that the announcement of layoffs at Meta was motivated by several different factors. The first is the slump in the economy and the sluggish growth rate that Meta has been experiencing.
As a consequence of this, the company has been experiencing slow growth in revenue. The tech giant also stated in an email that it has over-hired employees in the past few years due to business requirements. However, because the company is experiencing sluggish expansion and is having trouble generating revenue, it has begun to let people go from its payroll.
Let’s check out the real owner of the AI giant ChatGTP.
The second round of layoffs at Meta has caused frustration and disappointment among employees, who are questioning the company’s commitment to hard work and performance. The layoff process is being carried out in three stages, with technical roles being affected this month and business-facing roles potentially being affected next month. The company has cited a sluggish economy and slow revenue growth as reasons for the layoffs, as well as over-hiring in previous years. It remains to be seen how the company will fare after the layoffs and what impact they will have on its future plans.