Like Twitter, Meta to Sack Workers This Week, Report Says
- Facebook’s parent company, Meta, is reportedly planning to layoff its workers
- According to the report, the layoffs may happen as early as Wednesday this week
- The news comes as Zuckerberg’s fortune has plummeted, knocking off the top of the richest people’s list
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A new report by Wall Street Journal says Facebook’s parent company could begin mass layoffs, probably by Wednesday this week.
The report expects the mass sack to affect thousands of employees, and the move would be the first significant reduction in Meta’s history.
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Zuckerberg hinted of mass sack
The company reported more than 87,000 employees as of September 2022.
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Zuckerberg had said the company would prioritise investments in growth areas, meaning some teams would grow while others would stay flat or shrink over the next year.
He hinted that come 2023, the company may reduce the size of its workforce and reduce them to a smaller size.
The company’s shares have declined 73 per cent this year, falling to its lowest since 2016, and it is now the worst performer in 2022.
Zuckerberg's fortune falls
This news of the layoffs comes as Meta CEO Zuckerberg reportedly lost $71 billion of personal fortune in 2022.
Bloomberg reported that the tech guru lost money since the beginning of this year, knocking him off the first 20 riches person billionaire list.
His net worth dropped by $6 billion in September, while the ex-wife of Bill Gates, Melinda Gates, lost $27 and $26 billion while Amazon founder, Jeff Bezos, lost about $46 billion.
Zuckerberg was ranked third on this list in May 2020, with a net worth of $87.8 billion.
In September 2021, he clocked in at $142 billion, according to Bloomberg.
Twitter office in Ghana hit by mass sack as Elon Musk takes over, workers begin class action lawsuit
Legit.ng reported that one year after it opened an office in Ghana, its first in Africa, Twitter has laid off almost the entire workforce in the West African country in a massive global layoff which has hit workers at the microblogging site since Elon Musk bought the company a week ago.
The layoff also comes three days after Twitter workers in Ghana officially resumed office in Ghana. Many were sacked as part of a purge Musk embarked upon since he took over the company.
It is unclear how many workers were affected at the Africa Office, but reports say the social media firm plans to cut about 3,700 jobs.
Source: Legit.ng
