Facebook parent Meta Platforms is laying off 11,000 employees, or about 13 per cent of its workforce, as it battles faltering revenue and broader tech industry woes. This is the first major round of layoffs in the Menlo Parkheadquartered social media giant's history.
This follows a big round of job cuts at Twitter soon after Elon Musk's $44-billion takeover.
"The teammates who will be leaving us are talented and passionate, and have made an important impact on our company and community. Each of you has helped make Meta a success, and I'm grateful for it," Mark Zuckerberg, Meta's chief executive officer, said in a blogpost.
"I'm sure you'll go on to do great work at other places," said Zuckerberg, one of the richest persons in the world.
Meta has an estimated 300-400 employees in India.
When contacted about the impact of the global decision on Meta employees working in India, the company said: "We are not providing details about specific team impact." Sources said that further information on India job cuts may be made available on Thursday.
This story is from the November 10, 2022 edition of Business Standard.
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This story is from the November 10, 2022 edition of Business Standard.
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