Meta Layoffs: After Twitter, now there is a massive layoff in Meta, this week thousands of workers may lose their jobs- News Portal
Meta Layoffs: After Twitter, there is now news of massive layoffs in the social media site Facebook’s parent company Meta. According to a report, there are going to be massive layoffs from Mark Zuckerberg’s company this week.
According to reports, the process of mass layoffs will start on the coming Wednesday i.e. November 9 in Meta. Reports have claimed that thousands of employees of the company will come under the ambit of this process of layoffs.
It is being said that this layoff will be the first time in the history of Meta (Facebook).
Let us tell you that at the end of September, the company said that a total of 87 thousand employees work in Meta.
Meta shares are down 73 percent this year
Shares of Facebook’s parent company Meta have fallen 73 percent so far this year. The company’s shares have fallen below their 2016 lows to join the list of the worst-performing stocks in the S&P 500 index. The value of Meta’s shares has come down by about $ 67 billion this year, which is no less than a setback for the company.