7 Nov 2022

After Twitter, Facebook’s Parent Company Could Begin Large-Scale Job Cuts

San Francisco: After mass layoffs at Twitter, Facebook’s parent company Meta is reportedly set to lay off thousands of employees this week.

The large-scale job cuts at Mark Zuckerberg-led Meta could start from Wednesday and affect thousands of workers.

Sources said Meta’s planned layoffs may affect many thousands of its workforce. Meta is the parent company of the Facebook and Instagram and reported over 87,000 employees as of September.

The company, however, refused to comment, referring to Zuckerberg’s recent statement that the company would “focus its investments on a small number of high priority growth areas.” 

Meta had gone on a hiring spree during the Covid pandemic era as life and business shifted more online. It added over 27,000 employees in the pandemic years of 2020 and 2021 and another over 15,000 in the first nine months of this year but its stock has fallen more than 70 percent this year.

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