Facebook will fire another 10,000 employees – Communication – Science and technology

The company Meta, which owns the platforms Facebook, Instagram and WhatsApp, will lay off again. Another 10,000 employees will be removed from the list. It fired 11,000 people in November alone.

Technology companies are experiencing rough times. The global economic slowdown, especially as a result of the war in Ukraine, has brought with it lower profits, disgruntled investors and creditors, and corresponding cuts and streamlining of operations. Last year and this year, the largest IT companies demonstrated the impact lower profits can have on their operations. At the end of last year, Twitter terminated the employment relationship and cooperation with two-thirds of its employees and collaborators. Almost 4,400 of the total number of 7,500 employees lost their jobs, so to speak, from week to week. Due to “market uncertainty”, Amazon plans to lay off another 18,000 and Google almost 12,000 employees. According to analysts, more than 128,000 IT employees lost their jobs in less than three months of this year.

The company Meta, which includes the largest social networks Facebook and Instagram, has announced further major personnel cuts after the large layoffs in November, when it said goodbye to up to eleven thousand employees. In the near future, he wants to slim down the company by another 10,000 jobs. Out of the total number of 70,000 employees, it may end up with 50,000. The head of Meta, Mark Zuckerberg, admitted that 2022 was a big wake-up call for the company. In the last quarter of last year, its revenues fell by 4 percent year-on-year. However, it still ended up with an annual profit of $23 billion. But the expectations were higher.