Meta fires Indian employees, people in marketing and other departments impacted
By Ankita Garg: Meta started firing employees that were working in India. The fresh round of layoffs has reportedly affected many Indians and the move has seemingly impacted employees at the global level. The layoffs have been done in several departments like administration, human resources, and marketing among others. The exact number of employees that have been impacted is unknown right now.
A report reveals that Meta has removed people at levels and it is not limited to a certain category of employees. “Current layoffs are part of the announcement made previously only. This time around layoffs were from admin, human resources, marketing, etc. This downsizing round was across the hierarchy, people at all levels have been impacted,” an employee who is familiar with the matter told Business Today.
A former Meta employee revealed that the tech company is giving the same compensation package that it offered to previously laid-off employees. “Severance is similar to what laid-off employees received in previous rounds, roughly 3 months base pay. Apart from that there is pay depending on duration of employment. There is also the option of health insurance extension,” the former employee said.
According to details revealed in the official blog post, Meta promised to provide 16 weeks of base severance pay as well as two additional weeks of pay for every year of service. The tech giant also said that Meta would also offer health care assistance by paying for the expenses. This offer is for employees and their families, which will be applicable for six months. The company has also previously said that it will provide three months of career support too with an external vendor, including early access to unpublished job leads.
The fresh round of layoffs is the ones that Meta’s CEO Mark Zuckerberg announced back in March this year. He revealed that 10,000 more employees would receive pink slips and explained that the tech company has to take this tough decision to save costs. So far, the tech giant has removed 27,000 employees from its company. It first sacked as many as 11,000 workers in November last year and the process for the same continued until February.
There are several reasons why the tech company is firing so many employees. Zuckerberg explained in the blog post that the economic downturn and the slow growth that Meta has been witnessing is one of the reasons. Due to this, the company has been witnessing low revenue growth. In an email, the tech giant also stated that it over-hired in the past few years because of business needs. But, now that Meta is witnessing slow growth and struggling in terms of revenue. Hence, Meta is cutting jobs.