Meta started massive layoffs! Cutting more than 11,000

Meta is letting more than 11,000 of its employees go in the first-ever mass layoffs in the company's history, reducing its workforce by approximately 13%. Twitter has recently started massive layoffs and soon after Meta has started to cut on employee as well. It can easily be said that the current global situations including prices and infliation has an impact even on big companies.

Meta started massive layoffs! Cutting more than 11,000

Meta posted a message that Mark Zuckerberg sent to employees about the move on its Newsroom. Every organization in the company will be affected by the layoffs, though some will be more affected than others.The company is extending its hiring freeze through the first quarter of 2023 and cutting discretionary spending in addition to significantly reducing the size of its team. Additionally, the recruitment team will be "disproportionately affected" by the layoffs because it intends to hire significantly fewer individuals in the coming year.

Zuckerberg says that he wants to take responsibility for Meta's situation. He elaborated, "Many people anticipated that this would be a permanent acceleration that would continue even after the pandemic ended." Meta has decided to concentrate on its most important growth areas, which include its advertising and business platforms, as well as its vision for the metaverse in the long run.

The company has changed their name and their image as Meta last year focusing on more newly areas, but looks like as for incomes this plan did not really work. Company announced many loses ever since the change in image. Employees will soon receive an email about the layoffs, according to the CEO. Meta will provide affected employees in the United States with uncapped severance pay equal to 16 weeks of their base pay plus two additional weeks for each year of service.