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There will be a large number of layoffs in Facebook, so many thousand will be employed, the share will drop- report

Facebook Layoffs: The world’s big giants are either reducing recruitment or going even further and adopting the process of layoffs. Now one of the largest social networking companies Meta is reportedly going to lay off employees from Facebook. It could cut thousands of jobs (at least 12,000 or about 15 percent of its workforce). According to the news of news agency IANS, an Insider report has come in which it has been said. According to this, senior officers are in the process of laying off poor performing employees.

15 percent reduction in the number of employees possible
Several employees told Insider that the workforce could be cut by 15 percent in the next few weeks. This means that some 12,000 workers may soon be fired. “It may look like they’re moving on, but the reality is they’re being forced out,” the employee told Insider.

Facebook shares fall
Facebook employees have been apprehensive of layoffs for months as the social networking giant put a halt to recruitment. After this disclosure, the stock price of Meta reached close to $ 380 per share. The company’s stock has fallen 60 percent in the last one year.

Mark Zuckerberg warns of layoffs
META founder and CEO Mark Zuckerberg has made it clear that recruitment is on hold in all departments, warning that more layoffs are coming soon. According to reports, Zuckerberg made these comments during an internal call to employees.

There are going to be many teams in Facebook under-report
During a previous MetaEarnings call, Zuckerberg noted that “we plan to continue to reduce headcount growth over the next year. Many teams are going to be reduced so we can move energy to other areas.” In May, Zuckerberg announced a hiring freeze affecting certain segments of Meta. However, they have now extended the hiring freeze to all departments and verticals.

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