Google And Meta To Reduce Staff As Part Of Cost-Cutting Measures: Report
NDTV
The cost cuts are likely to include job reductions due to internal business department reorganizations.
The aftermath of the COVID-19 economic shutdown, the turmoil in Ukraine, and worries about climate change have all significantly impacted the sluggish status of the world economy. This unfavourable situation is having a negative impact on global job creation. All this has led to a situation where even a small report of layoffs at massive corporations causes a negative commotion in the business world.
As a result of sluggish growth, Google and Facebook parent company Meta, both tech behemoths, are in the process to lay off workers to reduce costs, according to a report in Wall Street Journal (WSJ).
The outlet further said that Meta hopes to reduce its expenses by at least 10 per cent in the coming months by reorganising departments and giving employees a chance to apply for other roles internally.
The Journal further said that all these measures will lead to reduced employment. It is anticipated that the cost-cutting will start in the next few months.
