The IT Nerd

The word on the street is that Meta who owns Facebook is planning to lay off thousands this week. This story has the details as we know them:

Meta is thought to be considering making thousands of employees redundant with an announcement planned as soon as Wednesday, the Journal reports.

Sources told the outlet that employees had been instructed to cancel all nonessential travel beginning this week.

At the end of September, Meta reported that it had a total of 87,000 employees.

Meta declined The Independent’s request for comment.

The company’s shares fell off a cliff as they had a weak quarter. Thus this isn’t all that surprising. It will be interesting to see what parts of Meta get affected as that will give a lot of insight into what Mark Zuckerberg thinks is important, and what he thinks he can dispose of.

I’ll be watching closely.

This entry was posted on November 7, 2022 at 5:02 pm and is filed under Commentary with tags Facebook. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.