Facebook: For the past few days, there has been an end to the talk of firing employees from Facebook. Mark Zuckerberg wrote a very emotional blog on Wednesday and gave way out of the company to 11 thousand employees. Overstaffing from over-optimism about growth, he cited as a major reason behind this. Let us tell you that a total of 87 thousand employees are working in Facebook, which has now been named Meta.
Mark Zuckerberg’s Message to Meta Employees
According to the information, this is the first time in 18 years that Facebook has laid off employees. Apart from Facebook, employees of WhatsApp and Instagram have also been fired. According to media reports, Mark Zuckerberg wrote in his blog, ‘Today I am going to tell about some of the most difficult decisions made in the history of Meta. We have decided to cut our team size by about 13 per cent. Due to this, more than 11 thousand talented employees are going to lose their jobs. At present there are about 87 thousand employees working in Meta. Apart from Facebook, there are also WhatsApp and Instagram among the 11,000 employees fired.
Mark Zuckerberg had informed his employees on November 8, a day before the formal announcement. Employees who will be laid off in the company are being given an additional salary of four months. Earlier, in a meeting with employees, Mark Zuckerberg seemed quite disappointed and said that he is responsible for the company’s missteps and that his over-optimism about growth has led to overstaffing. During the meeting, he also shared the information about the massive reduction in the workforce of the company.
Let us tell you that Facebook was founded in the year 2004 and then its name was changed to Meta. Facebook’s parent company Meta Inc has performed extremely poorly this year. Meta’s stock has lost nearly 50 per cent in the last five years.
Mark Zuckerberg is ranked 29th among the world’s rich. Whereas earlier he was counted among the top-10 richest people in the world. Mark Zuckerberg’s net worth is $33.5 billion, according to the Forbes Real Time Billionaires List.