Social media giant, Meta (formerly Facebook), has reportedly laid off 1,500 employees in its recruiting and human resources departments as part of its new wave of layoffs. The company had announced its plans to downsize earlier this week, with the cuts affecting around 10,000 employees in total.
According to Bloomberg, Mark Zuckerberg, the CEO of Meta, warned employees that the current economic climate of layoffs and restructuring could last “many years.” The company has been facing mounting pressure in recent years due to concerns over privacy and the spread of misinformation on its platform.
This isn’t the first time that Meta has undergone layoffs, either. In November of 2022, the company cut 11,000 people from its workforce in an effort to streamline its operations and cut costs. The company has also been facing increased competition from other social media platforms, such as Twitter and TikTok, which have been gaining popularity among younger generations.
The latest round of layoffs is expected to have a significant impact on the company’s recruiting and HR departments. It’s unclear at this point how these layoffs will affect the company’s ability to attract and retain top talent, especially in light of the ongoing competition in the tech industry.
Many employees at Meta have expressed their disappointment and frustration over the latest round of layoffs. Some have criticized the company’s leadership for failing to provide adequate support and resources to help those affected by the cuts.
In response, Zuckerberg has stated that the company is committed to providing support and resources to all affected employees, including severance packages and job placement services. He also noted that the company will continue to focus on its core mission of connecting people and building communities, despite the current economic challenges.
The news of the latest round of layoffs has also raised concerns among investors, who are worried about the company’s ability to maintain its dominant position in the tech industry. Meta’s stock price has been volatile in recent months, with many investors expressing skepticism about the company’s long-term prospects.
Despite these challenges, Meta remains one of the largest and most influential companies in the world, with billions of users around the globe. The company’s leadership will need to continue to navigate the current economic climate and find ways to adapt and thrive in an increasingly competitive and rapidly changing tech landscape.