Meta CEO Mark Zuckerberg spoke to hundreds of company employees on Monday. In the conversation, he confirmed the layoffs going to happen in Meta. During this, he told the employees that the process of retrenchment would be started in the company on Wednesday morning. During a downcast meeting, he said that he was responsible for the wrong steps taken by the company.
His over-optimistic approach to the company's growth led him to over-recruitment. According to a report in the Wall Street Journal, an employee involved in the meeting with Zuckerberg has confirmed this. According to the news, layoffs of thousands of employees can start in Meta from today i.e. Wednesday.
According to the report, the employees who are to be retrenched will get at least four months' salary. Zuckerberg has cited recruiting and business team members among those facing layoffs. An internal announcement of the layoff plan is expected at around 6 a.m. Wednesday, Fox News reported. Meta human resources chief Lori Golar told the group that employees who lose their jobs will be paid at least four months' salary, according to people familiar with the meeting.
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