Meta, the parent company of Facebook and Instagram, has yet again fired thousands of employees.
Continued layoffs
Meta, the parent company of companies including Facebook and Instagram, is reportedly laying off thousands of employees.
There is tension among the employees as to whose name will be featured in this new layoff.
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According to a Bloomberg report, thousands of employees could lose their jobs.
It is also said that the head management has asked the vice presidents for a list of those employees who are going to be laid off.
Phase 2 Layoffs
Earlier, Meta had laid off 13 percent of its total workforce, or 11,000. META employees are strongly protesting the second round of layoffs that have been announced since then.
This means that Meta Company is facing a major recession as its earnings ratio continues to decline.
In particular, the company’s advertising revenue has seen a decline. Meanwhile, it has come to light that such cost-cutting measures have been taken.