Advertisement
Parent company of Facebook, Meta, has slashed jobs across its business and operations units on Wednesday as it begin its last round of layoffs. This is a part of a plan which was announced in March to eliminate 10,000 roles.
Dozens of employees working in teams such as marketing, enterprise engineering, content strategy, program management, site security, and corporate communications took to LinkedIn to announce that they were affected due to the latest round of layoffs.
As per the LinkedIn posts, the tech giant also fired its employees from its units which focused on privacy and integrity.
Advertisement
Earlier this year, Meta became the first tech giant to announce second mass layoff round, after showing 11,000 employees the door in the fall. The cuts brought the company’s headcount down to where it stood as of about mid-2021, following a hire spree that nearly doubled it workforce since 2020.
The company’s shares closed marginally up in a broadly weaker market. The company have doubled its value this year and are among the top performers in the S&P 500 index. This is because the cost-cutting measures taken by the organisation and its focus on artificial intelligence.
