Meta, the parent company of Facebook and Instagram, is planning to fire about 8,000 employees in May this year. This layoff will be the company’s biggest step after the restructuring that took place in late 2022 and early 2023. According to Reuters report, this large-scale workforce reduction may begin around May 20. In the initial phase, Meta is preparing to reduce about 10% of its total global workforce. Apart from this, the company may also lay off some more employees in the second half of the year. However, the exact date of layoffs and the number of employees is still subject to change. AI investment and efficiency are being cited as the reason why Meta CEO Mark Zuckerberg is currently investing billions of dollars in Artificial Intelligence (AI). Company officials believe that due to the increasing capabilities of AI, management layers will be reduced in future and there will be more efficiency in work through AI-assisted workers. Earlier there were also reports that Meta may reduce 20% or more of its total workforce. Amazon and Disney also reduced staff. This round of layoffs in the tech and media sector is not limited to Meta only. In recent months, Amazon has also shown the way out to about 30,000 of its corporate employees (about 10% of white-collar staff). Disney CEO Josh D’Amaro has also announced the removal of about 1,000 employees from the TV business, ESPN and technology departments. More than 73,000 people unemployed so far in 2024 According to Layoffs.fyi, a website that monitors job cuts in tech companies, more than 73,000 employees have lost their jobs so far this year. Last year i.e. in 2024 this figure was beyond 1.53 lakh. Meta made $200 billion in revenue and $60 billion in profit last year despite huge spending on AI. Sama will also lay off due to expiry of Meta’s contract. ‘Sama’, the company which does content moderation work for Facebook, has also issued lay-off notice to more than 1,100 of its employees. This decision has been taken after Meta terminated its contract with Sama. Sama has said that they are supporting the affected employees. What is ‘lay-off’ and ‘white-collar’ job? Lay-off: When a company fires employees due to its poor financial condition, restructuring or less work, it is called lay-off. This does not happen because of the poor performance of the employee. White-collar jobs: Generally used to describe occupations in which employees perform administrative, professional, or managerial work in an office or at a desk. In contrast, ‘blue-collar’ workers are involved in manual labor or manufacturing. Also read this news… Central government increased dearness allowance by 2% to 60%: 50 lakh central employees and 69 lakh pensioners will benefit. The government has approved an increase of 2% in the dearness allowance (DA) and dearness relief (DR) of central employees. The government has increased DA-DR from 58% to 60%. This increase will be effective from January 1, 2026. This decision will increase the government’s annual expenditure by Rs 6,791 crore. Earlier in October, dearness allowance was increased from 55% to 58%. The previous revision was considered effective from July 1, 2025, with the payment being made in arrears. Read the full news…
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Meta plans to lay off 8,000 employees: The process of reducing workforce will start from May 20; There will be 10% staff reduction at global level
