Job Cuts Continue At Meta, Company May Fire 6,000 Employees Next Week
Facebook parent Meta isn't done with job cuts and it is likely to fire 6,000 more employees next week, media reports say.
Facebook parent Meta isn't done with job cuts and it is likely to fire 6,000 more employees next week, media reports say. According to Nick Clegg, the firm's President of Global Affairs, the third wave of job cuts at Meta will happen next week, says a report by Vox. The layoffs may impact Meta's business departments and could affect thousands of employees.
"The third wave is going to happen next week. That affects everybody in the biz teams, including in my orgs," Meta president of global affairs Nick Clegg, was quoted as saying.
However, the exact number has not been confirmed, but it is expected that the company will lay off approximately 6,000 employees in this round.
Earlier in March, Meta CEO Mark Zuckerberg announced that the company planned to cut 10,000 jobs by the end of May, following an 11,000-job cut in November last year. The tech giant cut around 4,000 of the planned 10,000 positions last month, leaving nearly 6,000 positions potentially on the chopping block.
At the end of 2022, Meta had around 86,000 employees, the report said. The ongoing layoffs at Meta are part of Zuckerberg's plans for a "year of efficiency" in 2023.
In April, Meta almost wiped out its team dedicated to combating misinformation. According to "Command Line" by The Verge's Alex Heath, the majority of the team responsible for combating fake news across Facebook and Instagram has been sacked.
"The team size was about 50 people," the report said.
Meanwhile, despite mass layoffs by global tech giants, some top Silicon Valley companies are reportedly seeking to recruit cheaper tech workers from abroad. According to a report by independent investigative journalist Lee Fang, the recently released data by the US Department of Labor has shown that Google, Meta, Amazon, Microsoft, Zoom, Salesforce, and Palantir among other tech firms have applied for thousands of H1B worker visas this year.
It is ironic that thousands of workers on H1B visas, including those from India, have been impacted by the layoffs in the US, leading many to share the news on social media and explore new job opportunities, the report noted earlier this week.
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