Meta, the Silicon Valley tech giant, is expected to have another round of layoffs start next week. A recording of a company meeting obtained by Vox revealed that Meta President of Global Affairs Nick Clegg informed employees of the “third wave” of job cuts coming up. In November, the company already laid off 11,000 employees. Since then, another 10,000 positions have been eliminated by the end of May, including those in recruiting and technology-related roles. This impending wave of layoffs is expected to mainly affect employees in business-oriented positions.
Nick Clegg expressed his concern for the current climate, emphasizing the anxiety and uncertainty that employees and families are facing. Despite the company’s financial struggles, they are continuing to move forward with their metaverse ambitions, building their own chip system to implement AI models.
Meta is said to be going through a “year of efficiency,” according to the company’s CEO Mark Zuckerberg. This is a phase of change that the company is undergoing, due to diminishing revenue and an unstable global market. To make matters worse, the current coronavirus pandemic has taken a great toll on their already-strained financial situation.
Meta is one of the leading tech giants located in Silicon Valley, known for their innovative ideas and competitive approach to tech development. The company focuses on creating products and technologies that will improve people’s lives and make the world a better place. It currently employs thousands of people in its offices around the world.
Nick Clegg is the President of Global Affairs at Meta. He is a highly esteemed figure in the global political sphere, having served as an MP in the UK, a European Commissioner for Multilingualism, and a Deputy Prime Minister of the United Kingdom. In his current role at Meta, Clegg is tasked with leading international strategy and representing the company’s interests abroad.
