After the firing of half of Twitter’s employees, it could be Facebook’s company Meta, the next Big Tech that’s kicking out thousands of people. They report it exclusively to Wall Street Journal informed sources, according to which the cuts will be announced on Wednesday next week. Company officials have already told employees to cancel non-essential travel starting this week.
According to the newspaper’s sources, the imminent layoffs in Meta will concern “thousands of people”: it would therefore be the first operation of its kind in the history of the company and, although in proportion to a smaller size than the maxi dismissal that took place within Twitter, may be the highest number of people kicked out of a Big Tech in a year that has seen an industry shrink.
Last September the company had declared that it had 87,000 employees and, according to the American business newspaper, it was already thinking of a 10% cut in expenses also through layoffs.
A few days ago Meta announced the financial results of the last quarter: it had recorded a 4% decline in revenues from advertising and on 27 October its shares had lost about a quarter of their value on the market (-24.56%) .