Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, plans to start mass layoffs on November 9 as part of a cost-cutting strategy in response to dismal profitability and a decline in sales, people with knowledge of the situation have claimed.
Late in September, Chief Executive Officer (CEO) Mark Zuckerberg informed staff that Meta planned to reduce spending and reorganise teams. A recruiting freeze was established by the Menlo Park, California-based business, which also owns Instagram and WhatsApp. According to the CEO, Meta expects headcount to be lower in 2023 than it is in 2022.
In order to prepare the executives for the layoffs, Zuckerberg spoke with them on November 8 and said that the impacted employees would start receiving notifications on November 9, according to the individuals, who wished to remain anonymous because they were sharing sensitive
The Wall Street Journal claims that, during the executive call, Zuckerberg accepted responsibility for the business’s “missteps”. A Meta spokesperson didn’t immediately respond to Bloomverg’s request for comment. check for more...
| https://mininewzz.wordpress.com/ |