We recently learned that Twitter laid off over 3,700 employees, or nearly half of its workforce, including 83% Indian workforce. This was a significant move after the firm was acquired by Elon Musk, the richest man in the world, for about $44 billion.
It now appears that Meta likewise has similar plans, as The Wall Street Journal has reported that Facebook’s parent firm is preparing to fire “many thousands” of its employees to reduce costs.
Meta’s current workforce is over 83,000 people, so laying off thousands would impact the business somehow. Still, it is understandable since the company has been underperforming recently.
As Mark Zuckerberg stated in June, it was evident that Meta was looking forward to firing some of its staff;
realistically, there are probably a bunch of people at the company who shouldn’t be here.
After being acquired, Twitter has recently focused heavily on increasing its revenue. It has fired half its employees and plans to add an $8 cost to the verified checkmark. Given that Twitter is a significant rival of Meta’s platforms like Facebook and Instagram, it appears that Meta does not want to fall behind.
Although Meta itself has not released any formal information about the study, The Wall Street Journal does say that;
An Announcement is planned to come as soon as wednesdsay.
We are looking forward to hearing the official word from Meta itself. This is the limited information we have for now, but we will be looking for more news regarding Meta in the future.
On that note, what do you think about Meta reportedly laying off thousands of their employees? Let us know in the comments section.
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