Is Meta going to have layoffs?

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Meta is one of the largest corporations in the world with a variety of products in the social media segment and the virtual reality world. With a great reach across the internet population, there is a set of responsibilities that all great corporations need to adhere to in this digital age. The challenges that came with data privacy has created turbulent waters for Meta in the recent times. Consumers have become increasingly aware of their rights, and how data broker firms have been using their data too much to sell them ads. This led to phone makers like Apple implement robust privacy control features like Apple Private Relay, and other modifications to ensure user privacy. Now Facebook cannot track its users as much as before as every user can choose whether to allow each app to track them or not. With lesser data at its hands, Facebook and other Meta products are unable to show useful relevant ads to their users, thus resulting in fewer clicks and lesser revenue. Financial losses are directly affecting the Meta hiring process. Practice the Meta interview questions when you Subscribe below.

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Meta hiring freeze and Facebook having layoffs
Meta having layoffs

Is Meta laying off employees

Meta has announced that it is reducing its hiring target by a staggering 30%. This is due to the ongoing economic slowdown which has created one of the worst ecosystem for Facebook. Meta is only prioritizing projects that are critical. Meta is cutting down projects that are optional and nice to have, thus making many employees redundant. Meta is laying off employees differently. Meta has defined strict performance guidelines for its employees. The pressure of working in Meta is now higher than ever before. The goal is to filter out employees and interns who are not able to meet this performance benchmark, thus qualifying them as inefficient. This is driven by the fact that Meta is under tremendous financial stress with its stock price and valuation severely deteriorating. The ongoing attrition has also left several Meta job position unfilled. Meta is desperate to filter out employees who it feels should not be a part of the organization. Slower user growth and low ad revenues are only adding fuel to the stress the company is currently experiencing.

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Author: Rahul Bhattacharya

Rahul is a journalist with expertise in researching a variety of topics and writing engaging contents. He is also a data analyst and an expert in visualizing business scenarios using data science. Rahul is skilled in a number of programming languages and data analysis tools. When he is not busy writing, Rahul can be found somewhere in the Appalachian trails or in an ethnic restaurant in Chicago.

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