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Meta Mass Layoff: Unprecedented Scale

  • Posted on November 9, 2022
  • News
  • By Akta Yadav
  • 323 Views
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Few days back a story was published on this website under the heading- Facebook Stories the Sorry State of Affirs.

Click here to see the original article on this website

The fears raised in the said story have finally come true. Meta CEO Mark Zuckerberg, in his blog stated: “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history.

I’ve decided to reduce the size of our team by about 13 percent and let more than 11,000 of our talented employees go.

We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hirng freeze through Q1,”

Many might see this move as an effect of management model initiated by Elon Musk after he recently took over the Twitter and fired many old employees.

Though the timing of historical decision of Mark Zuckerberg may point towards this but there is more fitting and obvious reason which may be behind this mass lay off at Meta.

Meta Mass Layoff: Unprecedented Scale 

The reason which was published on this website on 25th October 2022in the story titled- ‘Facebook Stories- The Sorry State of Affairs.’ 

The fact is that the present action is an effect of the letter on behalf of the shareholders. The letter was written on behalf of the shareholders due to poor performance of Meta in recently concluded Financial Year closing.

The poor performance was mostly pinned on increased expenses on Zuckerberg’s hyped 3-D Virtual Reality Project. This letter was written to Mark Zuckerberg recommending him to reduce the annual expenses by 5 Bn USD.

He was directed to reduce 20 percent of his manpower expenses in pursuance to which he is now planning to reduce the staff by 13 percent.                

The corporate sector is facing worst era of layoffs as recently we saw an open letter of appology of Byzus CEO to its staff explaining them why layoff was unavoidable.

He stated them to be an important part of the concern and briefed that it was indomitable on his part to avoid huge layoff of his staff.  

Returning back to Meta affairs it is really very disappointing and chaotic for the staff whose login acces is suddenly restricted to ensure safely of sensitive data.

They will only emails on their registered email ids if the layoff is meant for them. The situation really is grim. All of sudden the life of an employee comes for a sudden shock by way of an email only.

However, in his blog, Mark Zuckerberg  took full responsibility of his decisions and that way the present condition of the employees of Facebook.

Most Likely he was pointing towards his decision of investing huge amount in his dream project 3-D Virtual Reality project.

And perhaps this may be new trend of showing sympathy towards the outgoing staff after which they will be facing the risk of an uncertain future.

But is it sufficient to pay a lip-service for such a huge loss to such lareg number of employees. What will be their lives hereafter. What will be the plight of their family in the after math of this layoff.

Very hard to think and very heartening to ponder upon. Hope the good corporate practices prevail again and likes of mass layoff as happening in present corporate giants includig Twitter, Meta, Byzus etc,  does not become a dangerous trend anymore.  Also Read the precursor at this website

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Akta Yadav

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