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American technology company Meta, owner facebookWhatsApp and Instagram, plans to lay off about 11,000 workers, 13 percent of its workforce, according to a statement posted Tuesday on its website and signed by the same Mark Zuckerberg.
These layoffs, according to the head Targetstrive to make the company more flexible and efficient and to respond to changes in the economic and business environment.
Layoffs, according to the economic newspaper today Wall Street Magazineare the first major layoffs in the company’s eighteen-year history and coincide with cuts made by other technology companies such as Twitter.
Victims will receive an email to inform them of their situation.
Pandemic-level revenues not preserved
Zuckerberg In a statement, he assures that this decision is one of the “heaviest” in the history of the company, and assures that he takes responsibility: “I know that this is difficult for everyone, and I especially feel sorry for those affected.”
The COVID-19 pandemic, according to the company’s CEO, caused a significant increase in e-commerce and a “massive increase in revenue” that did not subsequently last.
“Many predicted that this would be a permanent acceleration that would continue even after the end of the pandemic. I thought so too, so I decided to significantly increase our investment. Unfortunately, this did not happen,” he adds.
Now the macroeconomic downturn, increased competition and the loss of advertisers have led, according to Zuckerberg“that our income is much lower than I expected. I was wrong and I take responsibility for it.”
Chapter Target recognizes that the company should focus on fewer sectors, cut costs, and prioritize some divisions, such as the one focused on the AI engine. (As reported by EFE)
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.