Preparations for big layoffs happening in Facebook, 12 thousand people can be employed

Facebook CEO Mark Zuckerberg said in May this year that he had announced to stop hiring in some segments of META.

Due to the economic slowdown, giant companies are laying off employees or stopping new hiring. Now the name of social media company Meta (META) has also been added to this. Facebook's parent company Meta (META) is going to make big layoffs soon. In this, about 12,000 employees of Facebook may have to lose their jobs. They account for about 15 percent of the company's total employees. That is, about 15 percent of the employees in the veteran social media may have to lose their jobs.

Hiring stopped first, now preparing for layoffs

Facebook CEO Mark Zuckerberg said in May this year that he had announced to stop hiring in some segments of META. Then in July, he said that the company plans to keep the number of employees the same for the next year. But due to the economic slowdown, the company may have to take strict steps now. Because the slowdown has had a bad effect on the digital advertising business.

32000 techies on long leave in America

However, the employees of the company say that it is being shown that they are being sent on leave. While the employees will be placed on the Performance Improvement Plan (PIP). The employees even say that they should think of working elsewhere. According to a post by a Facebook employee, the truth is that we are being pressured to leave the job. Let us tell you that till the end of July in America, about 32000 techies have been sent on leave.

META shares fell 58 percent

It is the effect of weak business performance that the stock of META continued to weaken. The stock has lost nearly 60 per cent this year. The stock had risen sharply to $ 380 per share, which closed on Wednesday at $ 138.98 per share. It has also affected the net worth of Mark Zuckerberg. His net worth declined by 58 percent in 2022. That is, there has been a loss of about $ 73.3 billion in net worth. Mark Zuckerberg is currently the 23rd richest businessman in the world. According to the Bloomberg Billionaires Index, his net worth is $52.1 billion.