Decided due to the drop in company revenue and other reasons, numbers claim around 11,0000 employees are affected
Since the technological advancements in the 21st century especially the growth of the internet, people have been connecting since then regardless of wherever they are in the world.
The 2010s have witnessed much better improvements, this includes the introduction of the famous social media platform ‘Facebook’. The application introduced by Mark Zuckerberg gained massive popularity throughout the years.
Executive Says That Layoffs Include Meta Employees At The Dubai Office
According to the sources, nearly half or the majority of the people in the world use Facebook. The application initially launched with the feature of messaging and sharing pictures as well as making new friends around the world.
Facebook is no longer known by that name since it was rebranded and renamed to a platform named Meta.
In Dubai, the authorities of meta are reported to be laid off soon and a huge one in the company’s near history among the other Meta offices around the world.
In Mena the chief Director of Meta, Dubai ‘Fares’ Akkad shared the information in his LinkedIn feed, a social app used to find technical jobs and assistance.
As per the Reuters report, this huge number of lay off globally adds up to 13% of their employees.
A similar thing was encountered by Twitter headquarters after The American billionaire Elon Musk took over.
The Reuters report also said that the higher authorities of Facebook guarantee a pay-out for four months and an extra two weeks for the years of service they served.
He also added that they could get health care facilities for half a year as an understanding person.
Along with the Facebook officials, the Director from Dubai says he’s getting ready to suggest these people to other companies, organizations, or services for a quick employment recovery and mainly an act of a kind gesture.
The start of this decade set Facebook to higher stakes after they bought another messaging platform WhatsApp also another popular social media network Instagram which most people of this generation use.
This led to huge revenue loss specifically getting dropped from being a 1 trillion US$ company to 256 billion US$ mostly losing 70% of its value this year.
The restructuring was the main motive behind the layoff and replacing the pretty old employee throughout the years with new fresh people with progressive ideas.
The Company’s head Mark Zuckerberg takes accountability for his actions and claims his unwanted optimism led to such loss.
They were reported to employ around ninety thousand workers in total according to a recent report.
These events also declined their prices of stock by 1% to $113.02. Mark says he didn’t intend to make such a massive layoff decision and shares his regrets and apologizes for his actions.
The huge placements of the company were made during the global pandemic helping people to find jobs and work from home in their comfort, a point where people were struck to their phones being isolated.
Although the company lost huge revenues due to the privacy controls of the tech company apple which led to less data collection the users and optimizing ads accordingly failed among a huge number of users.
The rising competition with TikTok a video-sharing platform also took this chance to boost at this hard time of Meta. Even if justifiable reasons are laying off employees like that is not appreciable.
At least informing them beforehand and helping them find jobs would be much better options. But Meta has tried their best by offering some privileges, hopefully, let’s expect the employee’s life gets better.