10,000 Americans Lose Their Job
Welcome to Biden’s America!
On Tuesday, Meta, the parent company of Facebook, made an announcement that it will be laying off 10,000 employees in the coming months due to the current difficult economic conditions.
In transcript provided by Fox, Meta CEO Mark Zuckerberg wrote, “As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs – and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision.”
According to Zuckerberg, the company intends to shut down 5,000 additional vacant positions as part of its “Year of Efficiency” initiative.
Zuckerberg announced that Meta will begin by downsizing its recruitment team, as the company’s hiring pace has slowed. Those employees will receive notifications about their status on Wednesday. Further reductions are anticipated for the company’s tech groups by the end of April and for its business groups by the end of May.
In an effort to reduce expenses, Meta, which had previously cut over 11,000 jobs in November, is among numerous tech companies doing the same. Specifically, last month, Meta reported declining profits and its third straight quarter of decreasing revenue.
Thousands upon thousands of jobs have been cut over the last 2 years and now a large number of Americans including lawmakers are asking President Biden where all of these workers will go?
President Biden has not addressed all of these layoffs directly and it’s beginning to look like he doesn’t know what will happen.
