Right from the beginning of 2023, the sound of recession (Recession in 2023) and an atmosphere of fear had started forming. Many tech companies had started laying off employees only in an atmosphere of fear. Twitter also removed many people and so did Facebook. Meta, which is a company owned by Facebook, also laid off thousands of people from here. This series is still going on.

Let us tell you that Meta, the company that runs the social media site Facebook, has announced the layoff of about 10,000 employees. About 11,000 employees were fired from Meta about four months ago. Then Meta had said that restructuring is being done and under this, steps like cancellation of low priority projects are also being taken.

head of meta mark zuckerberg “We anticipate reducing approximately 10,000 workers. In addition, approximately 5,000 additional positions we are not hiring for will be closed,” said a message to staff. Zuckerberg said it would be difficult, but there was no way to avoid it. This lay off will mean saying goodbye to the talented and passionate associates who have been a part of our success.

Meanwhile, Meta’s HR team Senior Technical Recruiter Andy Allen Wrote on his LinkedIn profile that I am also in today’s retrenchment, while I am on maternity leave. I understand the changes happening in the market and also know what is important for the business. I don’t understand how Meta’s leadership made such a bad miscalculation that they had to lay off thousands of employees. Despite this, they claim that they take care of those who work for them. Has Mark Zuckerberg cut his salary? My recruiting team was very competent, I loved my team but Meta’s reaction to such situations is very painful.

After the announcement of retrenchment by the company, its stock has increased by 2 percent. Zuckerberg has set a target of reducing the cost by about five billion dollars this year. Due to reasons like recession in the economy and rising interest rates, many tech companies in the US have laid off a large number of workers in the last few months. It is a different matter that the tech companies of India are still continuing their hiring.