Meta, the company that owns Facebook, WhatsApp and Instagram, is carrying out a massive layoff plan that will notify thousands of its workers this Wednesday, according to the ‘Wall Street Journal’.
The mass layoff at the tech giant, which has more than 87,000 employees, could be the largest job cuts in the sector following the industry’s growth during and after the COVID-19 pandemic.
The move comes shortly after top Meta officials asked employees to cancel non-essential travel starting this week, citing fears that rising inflation could push the economy into recession, according to the newspaper.
The company’s CEO, Mark Zuckerberg, recently noted that the company would focus on investing in «a small number of high-priority growth areas.»
These layoffs are in addition to those of Twitter after its acquisition by South African tycoon Elon Musk, who ordered to lay off 50 percent of the workforce, thus dismissing thousands of people in its different branches around the world.
The billionaire has decided to eliminate half of Twitter’s workforce, assuring that «there is no other option when the company is losing more than four million dollars (similar figure in euros) per day».
He has thus fulfilled his plans to cut costs at the social media platform he acquired for $44 billion.
