San Francisco. Not long ago, Elon Musk, the world’s biggest businessman and billionaire, showed a massive exit from the company after the acquisition of social media platform Twitter. Now Facebook (meta) fired its 11000 employees today, while on November 4, Twitter showed its 7500 employees out. Twitter has fired around 180 employees from India. Worse times are about to come. IT companies are going to be devastated. According to a report in Outlook, Amazon has frozen hiring, while Netflix and Microsoft are also going to lay off their employees.
Let us tell you that till 30 September, a total of 87 thousand employees were working in Meta. On the other hand, if we talk about today, after evacuating more than 11000 thousand people, a total of 13% people have been fired. At the same time, Twitter has shown the way out to 50% of its employees. Mark Zuckerberg, CEO of Meta said on retrenchment that for the first time in the history of Meta we are going to make the most difficult decision. We have decided to lay off 13% of the employees of META. That is, around 11 thousand employees.
Slowdown in IT sector? Which companies turn next?
It is worth noting that for the last few months, there has been a recession-like effect on IT companies, due to which the havoc of layoffs is continuing on the employees. Employees are being fired everywhere, from Indian to foreign companies. According to a report by Outlook, Amazon, one of the big giants, has stopped hiring. At the same time, Microsoft, Snap and Netflix may soon announce layoffs. By the way, since last month Microsoft had shown the way out of its 1000 employees. Netflix laid off about 500 employees. Snapchat has laid off 1000 people. There are many more companies in this list, which may soon reduce their workforce. One after the other, most tech companies are now laying off their employees.