business is notorious for its ruthless firing practices, only to turn around and rapidly overpay for junior analysts when the market returns.
Advertising will snap back and tech giants want to be prepared. Zuckerberg, if he fires too quickly, could lose the edge in employee efficiency. Even Musk, who is in a different boat, was so hasty cutting staff on Friday that managers had to ask dozens to return, according to Bloomberg on Monday. Being mean and lean may sacrifice future growth.Meta Platforms is planning wide-scale layoffs impacting thousands of employees, the Wall Street Journal reported on Nov.
Twitter on Nov. 4 laid off half of its staff, or around 3,700 people, Reuters reported. The company owned by Elon Musk reached out to dozens of employees who lost their jobs to return, Bloomberg reported on Nov. 6, citing people familiar with the matter.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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