From the time Mark Zuckerberg founded Facebook in 2004 The Silicon Valley company has steadily increased the number of employees it has. By the end of September, it had accumulated its biggest number of employees, totalling the number of 87,314. On Wednesday, however the company has been rebranded as Meta was able to cut jobs, and more deeply. Meta announced that it would lay more than 11,000 employees which is about 13 percent of its workforce which is the biggest job losses. The layoffs took place across the entire company, although certain areas, like recruiting are more affected than other areas.
“I want to take accountability for these decisions and for how we got here,” Zuckerberg wrote in a letter addressed to employees. “I know this is tough for everyone, and I’m especially sorry to those impacted.” On Tuesday, Zuckerberg met executives to discuss the layoffs, according to two people who attended the meeting told. One of those present said that the CEO accepted responsibility for the reductions, saying the company was growing too fast.
Meta has also canceled employee travel plans to ensure that they are available for meetings with managers in the event that their team is cut off, the three people told. The Wall Street Journal earlier reported that Zuckerberg’s meeting with the executive on Tuesday. For a long time, Meta had been a powerful company that was growing quickly because Facebook gained more users and acquired companies like Instagram as well as WhatsApp.
There is no way that scrutiny of its privacy policies for data and the shady content on its apps would have a negative impact on its financial results, as its stock climbed and revenues increased. At one point in the last year, Meta was valued at $1 trillion. At the end of July Zuckerberg informed employees Meta was experiencing “one of the worst downturns that we’ve seen in recent history” and in September, he announced an end to hiring. In the month prior to that Zuckerberg advised of the possibility that “teams will stay flat or shrink over the next year.”
” India impact The India employees of Meta have been caught off-guard by the sudden change. Although no figures specific to a particular country have been released Meta’s India employees are seeking information about the future of their company. Meta is estimated to have 300-400 employees working in India. The most small team of 60 or more is on WhatsApp. “We are not providing details on specific team impact,” Meta India said in reply to an email asking for specific comments about the impact of each country. In the last month Meta India head Ajit Mohan resigned from Meta India to join Snap Snap beginning in February.
