New York: Facebook’s parent company Meta is also planning massive layoffs after Twitter fired employees. Given this information in a media report, it has been said that this will probably be the biggest layoff in the technology giant in the last year. According to the report of ‘The Wall Street Journal, thousands of employees could be shown the way out of Meta.
Meta has a total workforce of 87,000. Employees may start showing the way out from Wednesday. The report said that the company’s executives have asked the employees not to go on any unnecessary travel this week. This will be the largest layoff of employees in the company’s 18-year history.
Meta’s Chief Executive Officer (CEO) Mark Zuckerberg has said the company will focus on a small number of investments in high-priority growth areas. “By the end of 2023, the size of our organization will be the same or a little smaller than it is today,” he said.
Let us tell you that this year there has been a huge fall in the shares of Meta. At the same time, its shares fell by a total of 73 percent. After falling more than its 2016 low, now the shares of this company have become the worst-performing stock of the S&P 500 index of US markets. The value of Meta’s shares has come down by about $67 billion, which is a major setback for the company.
