Meta and Google are reducing staff to cut costs amid the economic downturn. The companies have put some employees on traditional 30 to 60 days lists to find a new role within the company or leave.
Wall Street Journal reported that Meta is planning to cut costs by at least 10% in the coming months and has put more and more workers whose jobs are being eliminated on its traditional 30-day list.
Moreover, Google’s parent Alphabet has reportedly employed a similar approach, typically allowing workers 60 days to apply for a new role if fired.
Meta has a long history of eliminating employees whose roles are subject to termination if they cannot find a new job internally at the company within a month. Meta had a total of 83,553 employees at the end of this year’s second quarter.
Last month, Google fired about 50 workers at its incubator Area 120 and gave them more 30 days to find another job. A Google spokesman said that nearly 95% of employees found new roles within the notice period.
Alphabet CEO Sundar Pichai aims to make the company 20% more efficient, hinting at job cuts. The tech giant recently canceled the projects at its in-house research and development (R&D) division called Area 120.