Meta to fire 11k employees

[Yugocean]

Mark Zuckerberg has apologetically announced that 11k employees of the meta company will be laid off.

Not everyone is surprised by this. Facebook's share price has fallen more than 66%, but layoffs are happening by 13%.

The financial condition of the company is not such that it can handle large expenses. Not long ago Microsoft and Twitter also laid off nearly half of their employees.

 

[Starmix]

Those employees might receive a separation pay and they can use the pay to a small business for their daily sustenance and find other companies that need their service, They can work online too.

 

[Reedex]

The economic meltdown is the root cause of all of the layoffs.

 

[Shavkat]

Whenever I am reading this kind of situation, I always feel sad for those who will or lost their jobs. I had also experienced this from my previous company. It is a blessing disguise to find another one after a week. How about the others, right?

 

[uptrendfinancialsignal]

I'm very surprised that a very big company like Facebook could be affected with the economic meltdown.

 

[eldavis]

You can't really blame them on this though, it is better to lay them off now so they know their fate than to give them false hope keeping them there only to get delayed salaries or not being paid at all.