Meta Platforms slashed another set of jobs on Wednesday, this time affecting engineers and related tech teams, as CEO Mark Zuckerberg continued to restructure the firm in an effort to make 2023 a “year of efficiency.”
Meta, huge job layoffs
It was the first Big Tech business to announce a second round of huge layoffs in March, which it predicted would occur in three major batches over several months and affect 10,000 people.
Although the layoffs were inevitable, employees expressed their displeasure. The most frequently asked questions on an internal business forum on Wednesday, ahead of an impending staff town hall, were about layoffs.
“You’ve shattered the morale and trust in leadership of many high performers who work hard.” “What is the point of staying at Meta?” One question was seen and read.
The query refers to comments made by Zuckerberg last year in which he urged employees to work with greater “intensity” to solve the Facebook and Instagram parent company’s financial problems.
Meta’s initial round of layoffs in the autumn affected almost 11,000 employees, or 13% of its staff at the time, and came on the heels of other major tech businesses laying off thousands of workers following a pandemic-led boom in digital advertising and cloud computing.
Meta is also shelving lower-priority projects and “flattening” layers of middle management as part of the restructure.
Downsizing has been rewarded by investors
Meta shares have risen over 80% this year, more than erasing a 64% slide in 2022 and exceeding the Nasdaq Composite’s 16% gain during the same period.
The company, which will report its first-quarter results on April 26, is expected to profit from a minor uptick in the digital advertising industry as well as regulatory pressure on TikTok.
Metaverse training is a part of digitalizing Dubai vision
The company has begun offering training in the metaverse with the goal of digitizing processes and expanding revenue streams. The purpose of the course is to teach participants everything they can about the technology and how it can be used to enhance business processes.
The good and bad of implementing the technology in the customs sector is covered, along with the significance of doing so appropriately.
Crown Prince of Dubai and Chairman of the Executive Council Sheikh Hamdan bin Mohammed’s ‘Dubai Metaverse Strategy’ is broadly in line with the goals of Dubai Customs.
To read our blog on “Metaverse training 6th batch of Dubai customs officials,” click here
