If you get reassigned in a month or off, META has long told some employees that their departments have been reorganized.
There is more where it came from.
As competition intensifies, growth slows and its stock prices plummet, the social media giant formerly known as Facebook Planning to cut costs by at least 10% in the coming months, The Wall Street Journal mentioned Wednesday. It requires putting more and more workers whose jobs are being eliminated on the traditional “30-day list”.
recently dead Reported first decline in revenue Since it was introduced to the public a decade ago, which prompted CEO Mark Zuckerberg to warning That the difference within the company will “shrink” and that he expects that the company will soon have to “do more with less.”
in advance this monthIt turns out that the team responsible for ethical considerations related to Meta products was among those that would be left out. And last month, dead It said An algorithm was used to lay off 60 “random” workers.
It’s the latest beneath the surface look at the Meta’s internal turmoil throughout the 2022 disciplining period.
List of the 30 days “Ein Sauron”
In an effort to further reduce staffing without traditional layoffs, Meta — which owns Facebook, Instagram and Whatsapp — is using its 30-day list, from which the company has long excluded its low-performing workers. Recently, reputable performers whose jobs have been disqualified have found themselves with the reorganization of the company, magazine reported, citing managers and affected employees.
Mita did not respond to luckAsked for comment, but a company spokesperson told magazine Giving employees a deadline meant he was able to retain the best talent.
Meta shares have lost nearly 60% of their value since the beginning of the year amid large-scale sale of technologydisappointing profits, and Doubt On the tech giant’s $10 billion investment in the metaverse. in februaryThe company saw nearly $200 billion of its value lost in one historic afternoon.
Looking back, the company has gone through a lot this year.
Earlier this yearthe Meta boss revealed that some of his workers referred to him as “Eye of Sauron” – the name of the villain from Lord of the rings. Despite the seemingly negative resemblance, Zuckerberg insisted that the nickname was invented “with love”.
Meanwhile, the departure of longtime COO Sheryl Sandberg has worsened escalation of chaos and anxiety Within the company’s walls, insiders said luck earlier this year.
Shortly after Sandberg announced that she was leaving the company, Zuckerberg said he would “push the groove” on employees. “Some of you may decide that this place is not for you, and that self-selection suits me,” He said In a question-and-answer session.
Zuckerberg himself is showing signs of stress. In an interview over the summer, while it wasn’t clear whether he was joking or not He told podcast host Joe Rogan that in his role as CEO of Meta, he felt that “every day you wake up and your stomach hits”.
Meta isn’t the only tech giant asking employees to apply internally for a new job to avoid layoffs.
Last month, Google fired more than 50 workers in incubator area 120, quartz She mentioned, and gave them 90 days to secure another job at the company.
Back in March, Google had 1,400 . employees Seek company to extend the window to 180 days after several Googlers were told that their roles would be cancelled and told they had 60 days to find a new job and transfer to the company if they wanted to stay with the company.
The sector as a whole is witnessing Waves of layoffs As companies prepare for the economic downturn and grapple with a Selling technology on a large scale. Explode, ExplodePatreon TwilioAnd the Netflix Among those in the industry who have announced layoffs or hiring freezes in recent months.
However, not everything is so dark for Zuckerberg. In the same interview with Rogan, he spoke out loud about how his metaverse technology could help employees, saying it would be “cool” for people to be able to Teleport to workAnd he did a version of that during the pandemic when he learned to surf while working outside Hawaii.
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