In today's unstable economy, Facebook parent Meta is now slashing about 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts. The uncertain global economy has hit the technology sector particularly hard. 20 hours agoThe Meta company is making headlines after the Facebook-parent company announced a layoff of an additional 10,000 workers. This is the company’s second round of job cuts in the past four months.
CEO Mark Zuckerburg revealed the job cuts will occur “over the next couple of months.” Zuckerburg wrote, “We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. They actually intend to continue layoffs until as long as the end of 2023. Jeez, that stinks. “At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” Zuckerberg added. “Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation.”
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