Mark Zuckerberg’s decision to make 2023 the year of driving efficiency has made employees at Meta, including in India, jittery as the company is cutting nearly 10,000 jobs across its operations. The layoffs are expected to begin today.
According to a Meta India employee, everyone is on tenterhooks as they wait to know if the continue to work for the company. Some employees at Facebook, Instagram and WhatsApp have been told to work from home to be able to better process the news if they were asked to leave..
Globally, Meta has been cutting jobs since November 2022. The first round in November affected 11,000 workers across various departments. The second round was announced in March by Mark Zuckerberg who said that the company would cut 10,000 more jobs in the coming months. He added that the layoffs were part of a “year of efficiency” focused on improving the company’s financial performance in a difficult environment.
So far there has been limited impact on Meta India employees. That’s because Meta’s revenues in India crossed $2 billion for the first time during the year ending March 2022. Meta, the parent company of Facebook, WhatsApp, and Instagram, reported gross ad revenue of ₹16,189 crore growing at a year-on-year (y-o-y) rate of 74 per cent.
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Published on April 19, 2023
