Facebook, Instagram and WhatsApp’s owner company Meta announces a huge round of layoffs of its workforce
Meta has put roughly 13 percent of its staff out of employment in Silicon Valley. On Wednesday, Meta which owns Facebook, Instagram and WhatsApp laid off more than 11000 people from their employment.
The decision was made following many other big corporations in the market intended to cut off the staff, such as Twitter and business software firm Salesforce and social media powerhouse Snap, Inc.
Apart from them the other tech corporations which includes Apple, Amazon and Alphabet, the parent company of Google, announced that they are aiming to cut down on new hiring.
It was assumed that consumer preferences changes caused by the COVID 19 pandemic could be here to stay, especially in ecommerce. However, the CEO of Meta Mark Zuckerberg stated in public that he made a poor decision by assuming the same.
On Wednesday Mark said, “I want to take accountability for these decisions and for how we got here.. I know this is tough for everyone, and I’m especially sorry to those impacted.”
