THE Goal will carry out its first mass dismissal (layoff) in the next ones, according to the The Wall Street Journal (WSJ). The American newspaper claims that the company will cut 10% of employees – far less than the 50% laid off on Twitter last Friday. The layoff has been expected for some time and was “indirectly” mentioned by Mark Zuckerberg at the end of October.
During his third quarter financial results presentation on Oct. 26, Zuckerberg said that some Meta teams will experience reductions. However, the company’s CEO also commented that other areas could increase in size. The WSJ says Meta will notify employees this Wednesday
At the end of September, Zuckerberg’s company announced that it had an additional 87,000 employees — including employees from outside the United States. If in fact Meta lays off 10% of its employees, there will be 8,700 people on the street.
For comparison, this total number of employees that Meta will lay off is greater than the entire former staff of Twitter. Before Musk’s layoff, the social network had over 7,500 employees.
In its 18-year history, Meta (which started out as Facebook) has never carried out a mass layoff. The WSJ reported that the company will notify its employees this Wednesday (9)following California and US legislation on layoffs.
In accordance with state and country labor laws, a company needs to give its employees 60 days notice of mass layoffs. Twitter did not do this, which led to the labor lawsuit.
The first time (mass layoffs) we never forget, but the case of Meta is memorable for the sheer numbers and for taking place in a year when big techs they are losing money (and market value). In addition, even if it is debatable that the 50% of those fired from Twitter is the “layoff of 2022”, Musk’s social network should rehire some of the employees – apparently, there were wrong dismissals and of people vital to the boss’ plans.
Expected and suggested resignation
In June, the first information emerged that there would be a considerable layoff at Meta. Zuckerberg told a company meeting that “there are probably a lot of people in the company who shouldn’t be here”. During the pandemic, Meta and several of the big techs went out hiring crazy people — now it’s time to reevaluate the choices.
Days before the announcement of Meta’s financial results, an open letter from Brad Gerstner, one of the company’s shareholders, went viral. Gerstner criticized Zuckerberg’s turn to the metaverse and indicated three points for Meta to regain market confidence. Among them was laying off 20% of employees.
Gerstner almost got his wish, but Zuckerberg will follow through with his heavy focus on the metaverse. And this division may even gain more employees in the near future.
With information: The Wall Street Journal