Arab Press

بالشعب و للشعب
Saturday, Jul 27, 2024

"Why Should We Stay?" Meta's New Round Of Job Cuts Angers Employees

"Why Should We Stay?" Meta's New Round Of Job Cuts Angers Employees

Meta in March became the first Big Tech company to announce a second round of mass layoffs, which it said would take place in three main batches over several months and impact 10,000 employees.
Meta Platforms Inc on Wednesday carried out another round of job cuts, this time hitting engineers and adjacent tech teams, as Chief Executive Mark Zuckerberg further moved to streamline the business in a bid to make 2023 a "year of efficiency."

Meta in March became the first Big Tech company to announce a second round of mass layoffs, which it said would take place in three main batches over several months and impact 10,000 employees.

Wednesday's cuts, though expected, prompted expressions of frustration from Meta employees. Layoffs were the subject of the most popular questions posted on an internal company forum on Wednesday ahead of an upcoming employee town hall.

"You've shattered the morale and confidence in leadership of many high performers who work with intensity. Why should we stay at Meta?" read one question seen by Reuters.

The question references comments Zuckerberg made last year urging employees to work with more "intensity" to meet the Facebook and Instagram parent company's business challenges.

The company declined a Reuters request for comment.

Meta's first round of layoffs in the fall hit more than 11,000 employees, or 13% of its workforce at the time, and preceded other major tech companies shedding thousands of employees after a pandemic-led boom in digital advertising and cloud computing.

With the restructuring, Meta is also shelving lower-priority projects and "flattening" layers of middle management.

Investors have rewarded the company for downsizing.

Meta shares have surged about 80% this year, more than erasing a 64% drop in 2022, and outperforming the tech-heavy Nasdaq Composite's 16% rise in the period.

The company, which will announce its first-quarter results on April 26, is expected to benefit from a modest pickup in the digital advertising market and regulatory pressure on chief rival TikTok.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kamala Harris Pledges Action on Gaza Crisis after Netanyahu Meeting
Heatwave in Morocco Claims 21 Lives in Beni Mellal
Israel Warns France of Iranian Threats at Paris Olympics
Hamas and Fatah Sign Unity Pact Amid Gaza Conflict
Netanyahu Urges Unity Between US and Israel in Congress Speech
Netanyahu Criticizes Anti-Israel Protesters in US
World's Hottest Day Recorded on July 21
Sri Lanka Apologizes for Forced Cremation of Muslim Covid Victims
Hacking Vulnerabilities: Androids vs. iPhones
Israel Conducts First Direct Air Raid on Yemen's Hodeidah Port
Joe Biden Withdraws from 2024 US Presidential Race
A Week of Turmoil: Key Moments in US Politics
US Criticizes International Court's Opinion on Israeli Occupation
Netanyahu Denounces World Court Ruling on Israeli Occupation
Adidas Drops Bella Hadid Over Controversy
UAE Court Sentences 43 to Life Imprisonment Over Terrorist Links
Spain PM Pedro Sanchez Denounces Double Standards on Gaza at NATO Summit
Biden Affirms Commitment To Presidential Race
2024 Predicted to Be World's Hottest Year
Iran's President-Elect Masoud Pezeshkian Reiterates Support for Hezbollah
Biden Insists on Continuing Presidential Race Amid Criticism
US Officials Resign Over Biden's Gaza Policy
Campaigners Push for Emergency Uplift Visa for Palestinians Escaping Gaza Conflict
Netanyahu Criticizes Release of Gaza Hospital Head
UK Government and British Airways Sued Over 1990 Kuwait Hostage Incident
Afghan Women's Rights Declared Internal Issue by Taliban
UK Appeals to ICC May Delay Arrest Warrants for Israeli Leaders
Iran's Presidential Election: A Close Race
Iran Threatens Retaliation if Israel Attacks Lebanon
EU Enforces Sanctions on Hamas Financiers
UN Agency Sued by Israelis Over Alleged Aid to Hamas
United States Bans Kaspersky Antivirus
White House Cancels US-Israel Meeting Amid Netanyahu's Accusations
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Hezbollah Chief Threatens All of Israel Amidst Escalating Conflict
Canada Lists Iran's Revolutionary Guards as Terrorist Group
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
Japan Considers Sanctions on UAE-Based Entities for Aiding Russia
Israel Rescues Four Hostages from Gaza
Iran Approves Six Candidates for Presidential Election After Raisi's Death
Israeli Commander Resigns After Hamas' October 7 Attack
Israeli War Cabinet Minister Benny Gantz Resigns Over Gaza Strategy
UN to Add Israel to Human Rights Blacklist
Labour Party to Pledge Recognition of Palestinian State in Election Manifesto
Hamas Rejects Biden's Gaza Ceasefire Proposal as 'Just Words'
Hamas Has Not Responded To Latest Ceasefire Proposal: Qatar
State of Palestine Seeks to Join UN Court Case Accusing Israel of Genocide
Hezbollah Launches Drone Squadron Towards Israeli Military Targets
US-Built Pier in Gaza Faces Setbacks and Repairs
Norway, Ireland, and Spain Recognize Palestinian State
×