CEO Mark Zuckerberg informed hundreds of executives on Tuesday that Meta Platforms will start terminating staff on Wednesday morning. According to the story, which also cited people with knowledge of the situation, Zuckerberg appeared dejected during the meeting on Tuesday and claimed responsibility for the company’s mistakes and overstaffing as a result of his overconfidence in the company’s growth.
The recruiting and business teams were particularly cited as being among those facing layoffs, and he also spoke of sweeping cuts, according to the article, which also stated that an internal statement of the company’s layoff plans is anticipated around 6 am Eastern time on Wednesday.According to the article, the exact employees who are losing their employment would be informed throughout the morning.
According to Lori Goler, the head of human resources at Meta, employees who leave their positions will receive at least four months’ worth of income as severance.Meta reported having more than 87,000 employees as of the end of September.
The business chose not to respond to the report.
Following Elon Musk’s $44 billion acquisition of Twitter, half of its workers was laid off from teams working in communications, content curation, product, and engineering.However, Twitter was contacting numerous fired employees and pleading with them to come back.In October, Microsoft also let go of about 1,000 workers across different divisions.