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Largest Tech Layoff Of The Year | Meta Terminates 11000 Employees | Beyond The Headline
Posted
November 9, 2022
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10:47Now PlayingIn this episode of Beyond the Headline With Tamanna Inamdar, we will deliberate on the year's most prominent tech layoff. In one of the most extensive tech layoffs this year, Meta Platforms Inc. let go 13% of its workforce, or more than 11,000 workers, as the Facebook parent company confronts rising costs and a sluggish advertising market. The substantial job cuts, the first in Meta's 18-year history, come in the wake of thousands of layoffs at other significant digital firms, including Twitter, owned by Elon Musk, and Microsoft Corp. In the face of decades-high inflation and swiftly rising interest rates, the economic boom that increased the value of tech businesses this year has collapsed.
According to CEO Mark Zuckerberg, cell phones will eventually be superseded as the primary form of technology used by the "metaverse," an immersive digital cosmos. Former Twitter India head Manish Maheswari said, 'COVID-19 is no longer there, so companies are going back to old ways. They overestimated the impact of COVID'
#metalayoff #11000employeelaidoff #meta #marckzuckerberg
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