THE Goal is the next technology company to undergo a layoff. This Wednesday (9), the owner of Facebook, Instagram and WhatsApp confirmed the dismissals, which will affect around 11 thousand employees, to reduce the company’s expenses. The information was revealed by the CEO himself Mark Zuckerberg🇧🇷
The bird, as we speak in Brazil, is detailed in a publication in Meta’s newsroom. Right away, Zuckerberg points out that this is one of the “most difficult” changes in the company’s history. And it’s no wonder, as the company decided to cut around 13% of its payroll.
“We are also taking a number of additional steps to become a leaner and more efficient company, cutting discretionary spending and extending our hiring freeze into Q1. [de 2023]”, said the executive.
Zuckerberg took responsibility for the shutdowns. “I know this is difficult for everyone, and I am especially sorry for those affected,” he said. Also according to the CEO, the reductions are reaching all organizations in the Family of Applications and Reality Labs, the sector responsible for operations in augmented and virtual reality.
Zuckerberg explains the reasons behind the layoff
The letter exposes the factors behind Meta’s layoff. Unsurprisingly, Zuckerberg talks about the COVID-19 pandemic, which has resulted in several investments as life has become virtually virtual. No wonder the WhatsApp call limit first rose to eight people and now it’s in 32 members🇧🇷
The problem is that all this took an unexpected proportion, escaping the company’s expectations. “Not only has online commerce returned to previous trends, but the macroeconomic slowdown, increased competition and a loss of ad signal have caused our revenue to be much lower than I had expected,” he explained. “I got it wrong, and I take responsibility for that.”
But the situation does not only involve the impacts of the pandemic. In recent times, Meta started to focus on the metaverse, a movement that has not yet offered the returns expected by the company and that even proved its need in the world or, amazingly, its existence. no wonder, Facebook Reality Labs (FRL) division lost $2.81 billion in Q2 2022🇧🇷
It is worth remembering that the company even changed its name due to the new bet. The problem is that nor the shareholders put up with this story that goes nowhere. By the way, not even company employees want to use Horizon Worlds🇧🇷
Even so, Meta will still give some prominence to the idea. “In this new environment, we need to become more capital efficient,” said Zuckerberg. “We’ve moved more resources into a smaller number of high-priority growth areas, such as our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse.”
The termination will be notified to employees via email. In the statement, there will be an explanation of the entire process. But the CEO of Meta shared some details about the measures that will be adopted to those affected in the United States. Starting with the payment of 16 weeks of base salary plus two additional weeks for each year of service, and all this without limit.
Paid time off will also be paid to employees, including shares, which will be offered until November 15th. The health plan will be covered by the company for up to six months. The company will also offer three months of support to ensure that employees affected by the termination are hired again.
“I know this is especially difficult if you are here on a visa. [nos Estados Unidos],” Zuckerberg told the immigrants. “There is a notice period prior to termination and some visa grace periods, which means everyone will have time to make plans and work on their immigration status. We have dedicated immigration experts to help guide you based on what you and your family need.”
The CEO also said that the process will be similar in other countries. In this case, it will be necessary to consider the local legislation. Those affected by the mass dismissal, however, will no longer have access to most of Meta’s systems to prevent access to confidential information.
But look how nice: the employees who will be disconnected will still be able to enter the email to say goodbye!
With information: Meta (Newsroom)