Although, the reason behind the layoffs wasn’t disclosed and the amount of employees affected wasn’t also disclosed. Mets refused to reply to comment at press time.
However, another report that surfaced shows that Meta cut another 24 jobs in it Los Angeles office due to staffs using their US$25 credits, meant for daily meal, for buying various household items including wine glasses, laundry detergent and acne pads.
According to Financial Times (FT), all these recent layoffs are different from the company’s restructuring plans that took place last week. More so, recall that the social media parent has cut approximately 21,000 jobs since November 2022 to cut cost.
The company CEO, Mark Zuckerberg, said 2023 is a “Year of Efficiency”. If you’ve noticed, Meta shares have surged by 60% this year. In it second-quarter, the company exceeded revenue expectations and gave an optimistic third-quarter sales forecast.
This analytics suggests that strong and robust digital ad spending on the platform can offset its artificial intelligence (AI) investment costs.
What do you think about "Meta’s layoff of employees in Los Angeles for spending their daily meal credit on household items?" Do you think it a good idea to warn other employees that are doing the same or it is not? Tell us your thoughts in the comments below.
