Meta laid off 1.5K HR employees as part of its second downsizing round

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  • Meta Platforms, Inc. (NASDAQ: META) announced planned job cuts, beginning with 1,500 recruiting and human resources employees.

  • During an internal meeting with employees, Mark Zuckerberg informed employees that the economic climate of and restructuring could last “several years,” according to Bloomberg. reports Citing familiar sources.

  • Meta informed officials about the first wave of cuts on Thursday morning.

  • Read also: Apple joins cost-cutting campaign, bonuses, ease of recruitment

  • However, Meta has not yet notified all affected people. For example, in engineering are likely to happen in April.

  • On March 14, Zuckerberg shared plans to lay off nearly 10,000 employees. Eliminating 5,000 open roles as part of its second downsizing round, Meta laid off 11,000 people, or 13% of its workforce, in November.

  • Zuckerberg told employees on Thursday that these cuts were more tied to performance, but the recent cuts were reportedly due to need and product priorities.

  • Price Action: META shares traded at $201.75 premarket, down 1.55% on the last check Friday.

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