Facebook Owner Meta Begins Layoffs

 

Facebook Owner Meta Begins Layoffs

What's Happening?

Meta, the company that owns Facebook, Instagram, and WhatsApp, is cutting 10,000 jobs. This means that many people who work for the company will lose their jobs.

Why is This Happening?

The boss of Meta, Mark Zuckerberg, says that the layoffs are necessary to make the company more efficient. Meta has been struggling since its ads business slowed down last year. In fact, the company already let go of 11,000 people last year.

What's Next?

The company is notifying people who are losing their jobs. The first people to go were on the recruitment team. Now, people on the IT teams are being let go. Next month, more people on the business and administration teams will lose their jobs.

Why is This Happening in the Tech Industry?

The tech industry has been hit hard by the economic slowdown caused by higher borrowing costs. This has led to layoffs at big companies like Amazon and Google. In fact, more than 170,000 people in the tech industry have lost their jobs this year.

What Does This Mean?

If you or someone you know works for Meta, they may be losing their job. This is a difficult time for many people in the tech industry. It's important to support each other and look for new opportunities.