Meta, the parent company of Facebook has reportedly sacked 60 employees particularly those in Technical Program Manager (TPM) roles.
However, Meta has not officially commented on the layoffs. The company has reported sacked employees in TPM roles that have impacted 60 employees in the company.
Earlier, the tech company had previously cut 11,000 jobs at the end of 2022. Moreover, an additional 10,000 workers were let go last year as part of cost-saving measures.
“Unfortunately, this did not play out the way I expected,” previously Mark Zuckerberg said in a statement.
“Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that”, Mark Zuckerberg added.
“In 2023, we’re going to focus our investments on a small number of high-priority growth areas. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year”, Mark Zuckerberg added.
Recently, Google said that the company is laying off hundreds of employees working in Assistant, hardware, and engineering teams.
A spokesperson told Reuters in a statement, “Throughout second-half of 2023, a number of our teams made changes to become more efficient and work better, and to align their resources to their biggest product priorities.”
“Some teams are continuing to make these kinds of organizational changes, which include some role eliminations globally”, a spokesperson added.
Moreover in 12 days, So far in 2024, there have been 70 layoffs at tech companies with 15,668 people impacted (1,306 people per day).
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