Meta fired 11000 employees on Wednesday, which is around 13 per cent. The company has also been criticized for its handling of user data. The layoffs are a sign that Meta is looking to move past these controversies and start fresh.
The layoffs come as a shock to many, especially those who were recently hired. One of those affected is an IITian who relocated to Canada to work with Facebook. He was let go just two days after joining Meta.
Zuckerberg said that the company is making these changes to invest in new areas and move away from others. “We need to get better at deciding which bets to place,” he said.
“There are some big bets that we’re making that I’m confident will pay off.” Meta has been struggling financially for some time now, and these layoffs are a way to cut costs. This will undoubtedly have a negative effect on morale within the company, but only time will tell if it’s enough to turn things around.
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