Following the announcement of an extra 10,000 job cuts by Facebook’s parent company, the Meta company is receiving media attention. This is the second round of job cuts the business has made in the previous four months.
CEO Mark Zuckerberg reportedly told CNN Business that the job cuts would take place “over the next couple months.”
“We expect to announce restructuring and layoffs in our tech groups in late April, followed by our business groups in late May,” Zuckerburg wrote in a memo.
It’s anticipated that it will take until the end of 2023 to finish the entire round of cutbacks.
Zuckerberg continued, “At this point, I believe we should get ready for the possibility that this new economic reality will persist for many years. “Higher interest rates cause the economy to operate more frugally, greater geopolitical unpredictability increases volatility, and increased regulation slows growth and raises the cost of innovation.”
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