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Facebook and Instagram parent company Meta is looking to lay off another 10,000 of its employees. As CEO Mark Zuckerberg explained on Tuesday, layoffs should affect middle management. Also, the gap of 5000 people in Meta should not be filled. In November alone, the internet giant announced that 11,000 employees would be laid off.
In recent months, multiple US tech companies have decided to make massive layoffs. Google’s parent company, Alphabet, has announced that it will lay off approximately 12,000 jobs worldwide. Software giant Microsoft wants to lay off 10,000 employees, online giant Amazon wants to lay off more than 18,000.
Due to the bad economic situation, tech groups came under increasing pressure to cut costs, in part due to the loss in advertising revenue.
Facebook also has offices in Switzerland. It is not yet known whether the savings hammer will land here as well. (AFP/storm)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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