Breaking |

Breaking |

Final Round Begins, Facebook Owner Meta Lays off Several Employees
Published : May 26, 2023, 5:30 pm IST
Updated : May 30, 2023, 3:42 pm IST
SHARE ARTICLE
Meta
Meta

Some short rounds may be released after this: Mark Zuckerberg

New York: Facebook owner Meta Platform Inc has slashed jobs in its business and operations units. The company completed its final batch of layoffs in three parts. Dozens of employees working in teams such as marketing, site security, enterprise engineering, program management, content strategy and corporate communications announced on LinkedIn that they had been laid off.

According to a LinkedIn post, the social media giant has also fired employees from its units focused on privacy and integrity. Meta announced a second round of mass layoffs earlier this year after laying off more than 11,000 workers. It has become the first major tech company to do so. This reduction has reduced the headcount of the company. This is being done after recruiting to double its workforce from 2020.

Advertisement

Shares of the company closed marginally higher in a broadly weak market. They have more than doubled in value this year and are among the top performers in the S&P 500 index.

In March, Meta CEO Mark Zuckerberg said the bulk of the company's second round of layoffs would take place in three "branches" over several months, ending around May. He said that some short rounds may be released after this. Overall, the cuts hit non-engineering roles the most, reinforcing the predominance of coders in Meta.

Mark Zuckerberg had said that the focus is on restructuring "substantial" business teams and returning to a "more favorable ratio of engineers to other roles". The company is also eliminated other non-engineering roles, such as product design and user experience research, according to executives who spoke at a company town hall after the last round of layoffs in April, amid cuts specifically targeted at technology teams. 

Advertisement

SHARE ARTICLE

ROZANA SPOKESMAN

Advertisement
Advertisement

Explained: Haryana Assembly Elections Result 2024

09 Oct 2024 12:29 PM

Manpreet Badal Takes Dig at Raja Warring Ahead of Punjab\'s Panchayat Election 2024

09 Oct 2024 12:20 PM

MoS Ravneet Bittu\'s statement after Haryana Elections results 2024

09 Oct 2024 12:01 PM

Here\'s What Brij Bhushan Said on Vinesh Phogat\'s Victory in Haryana Assembly Elections 2024

08 Oct 2024 5:03 PM

Haryana Assembly Elections Result 2024 | Deep Analysis

08 Oct 2024 4:59 PM

People go to Canada-US and wash bathroom, but you can\'t maintain cleanliness in the University.

08 Oct 2024 4:52 PM
Advertisement