Meta Plans to Cut Off Employees – Report Says!! Meta Platforms Inc., the parent company of the popular social media platform Facebook is said that plans to cut jobs. Recently, many global companies have supported layoffs. It has been reported that the layoffs are part of a cost-cutting plan following Meta’s declining revenue.
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Employees affected by the layoffs will now be notified starting this morning. Meanwhile, CEO Mark Zuckerberg has said he will take responsibility for the company’s actions. Earlier in September, Zuckerberg warned employees that Meta planned to cut costs, restructure teams, and potentially lay off employees.
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Also, Meta expects the number of employees to be lower in 2023 than it is now. Meanwhile, the number of employees, which stood at more than 87,000 in the period to September 30, is expected to fall by up to 10% by the end of the year. These layoffs come in the backdrop of a slowdown in digital advertising revenue and a sluggish economy.