The downturn has sent stocks tumbling and companies reeling. A slew of industry stalwarts have cut a combined tens of thousands of workers in an effort to slash costs.Meta: Cut about 11,000 employeesthat the company would be laying off about 11,000 employees -- an estimated 13% of its workforce.a second consecutive quarter of declining sales last month, as the company contends with a widespread drop in online ad spending and rising competition from TikTok.
"We're restructuring teams to increase our efficiency. But these measures alone won't bring our expenses in line with our revenue growth, so I've also made the hard decision to let people go," he added.Days after Elon Musk acquired Twitter, the company earlier this month began"Today is your last working day at the company," the company said in an email to employees, which ABC News has reviewed.
Musk, who said he overpaid for the platform at the purchasing price of $44 billion, faces pressure to boost the company's profits. Earlier this month, he said the company is losing $4 million each day.Amazon is set to lay off about 10,000 workers, marking the largest job cuts in the company's history and the latest employee losses in a battered tech industry, theThe cuts amount to less than 1% of the company's 1.
The company's stock has fallen about 71% this year, more than double the decline in the tech-heavy Nasdaq index over that period.
Its hard to make money by irritating your customer base and trying to silence them.
What a disgrace for all these liberal darlings to be laying off. Where is the outrage?
they rich will fall
Merry Christmas and Happy New Year, from all the billionaires
han ser så märklig ut med den frisyren
Come 2023....These same Tech companies will rehire at Double of today's Salaries 😎💯
I like how they all waited until a week after the election to announce…
A lot has really happened this period with tech revolution.
So elonmusk is doing nothing wrong if companies like Meta are also laying of thousands of people.
Gross
Who'd have thought drastically overvalued social media companies would eventually have to face the real world. At least 'Truth' social know's it's worthless.
here’s how this headline should have been framed instead of this bs from
What? It’s not just Twitter? We need to get this information out. LOL
Trump will only make it worse ... He sucks the air out of everything he's near ... People will tune out and vote against him ... Media shall suffer the same fate ... ...
May they go the way of my space!
You can’t see their personnel was an insubordination?
Tech bubble 2.0 ?
When u pay 22 year olds $350k to start it’s not surprising.
You mean placating to the woke mob and infringing on the basic rights of their users isn’t working out for tech companies….
📄📄📄📹