Mark Zuckerberg’s announcement of laying off employees has put the IT industry into further turmoil. Just recently, Elon Musk, after acquitting Twitter laid off nearly 3000 employees all over the world. In India alone, Musk has just kept 20-25 people of the 200 people who in his employment.
Although not it is being said that a few people were laid off by mistake and are now being called back. Elon Musk has blamed a drop in the revenue collection for his laying off employees.
Now, Mark Zuckerberg is planning to give many of his workers a lay off. It is being said that Meta, the parent of Facebook, after getting a drop in revenue for two financial quarters is going to lay off employees, much bigger in number than Twitter.
The fate of around 27,000 employees of the Meta Platforms together is hanging by a thread. Mark Zuckerberg has hinted that the lay-off would start soon, though he has not confirmed the number people he plans to fire. He has blamed himself for everything, including his own optimistic view of the company’s growth, which led to more people being hired than were necessary. This was told in an internal meeting of the company.
Now, the company is planning to focus on investments on a smaller number of high priority growth areas. The senior managers gave asked the employees to be present and cancel travel plans that are not essential.
Mark Zuckerberg had told his employees in a meeting back in August that the company was housing a bunch of people who were not required.
It is being said that this lay-off by Mark Zuckerberg is going to be the largest that the technological corporation has seen to reduce its expenditure in order to improve financial stability.
