Another round of layoffs at Meta Platforms Inc. affected engineers and related tech teams as CEO Mark Zuckerberg continued to restructure the company in an effort to make 2023 a "year of efficiency."
The second round of mass layoffs at Meta, which it estimated would affect 10,000 employees, were announced in March, making it the first Big Tech company to do so.
Even if the most recent cuts were anticipated, Meta staff members expressed their dissatisfaction nonetheless. In advance of a forthcoming staff town hall, layoffs were the topic of the most frequently asked questions on an internal business forum on Wednesday.
"You've shattered the morale and confidence in leadership of many high performers who work with intensity. Why should we stay at Meta?" read one question seen by Reuters.
The query refers to remarks Zuckerberg made the previous year pushing staff to work with more "intensity" to solve the commercial issues facing the parent firm of Facebook and Instagram.
Meta made no comments on the issue.
After a pandemic-driven boom in digital advertising and cloud computing, Meta's first round of layoffs in the fall affected more than 11,000 workers, or 13% of its workforce at the time, and came before other significant IT businesses laid off thousands of workers.
Along with the restructure, Meta is "flattening" layers of middle management and shelving lower-priority projects.
The corporation has benefited from shrinking thanks to investors.
The tech-heavy Nasdaq Composite has grown by 16% this year, but Meta shares have grown by more.
The business, which will release its first-quarter earnings on April 26, is anticipated to profit from regulatory pressure on TikTok's main competition and a minor uptick in the digital advertising industry.
(Source:www.libemint.com)
The second round of mass layoffs at Meta, which it estimated would affect 10,000 employees, were announced in March, making it the first Big Tech company to do so.
Even if the most recent cuts were anticipated, Meta staff members expressed their dissatisfaction nonetheless. In advance of a forthcoming staff town hall, layoffs were the topic of the most frequently asked questions on an internal business forum on Wednesday.
"You've shattered the morale and confidence in leadership of many high performers who work with intensity. Why should we stay at Meta?" read one question seen by Reuters.
The query refers to remarks Zuckerberg made the previous year pushing staff to work with more "intensity" to solve the commercial issues facing the parent firm of Facebook and Instagram.
Meta made no comments on the issue.
After a pandemic-driven boom in digital advertising and cloud computing, Meta's first round of layoffs in the fall affected more than 11,000 workers, or 13% of its workforce at the time, and came before other significant IT businesses laid off thousands of workers.
Along with the restructure, Meta is "flattening" layers of middle management and shelving lower-priority projects.
The corporation has benefited from shrinking thanks to investors.
The tech-heavy Nasdaq Composite has grown by 16% this year, but Meta shares have grown by more.
The business, which will release its first-quarter earnings on April 26, is anticipated to profit from regulatory pressure on TikTok's main competition and a minor uptick in the digital advertising industry.
(Source:www.libemint.com)
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