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HomeNewsMeta and Google reduce staffing to cut costs amid economic downturn

Meta and Google reduce staffing to cut costs amid economic downturn

Meta plans to cut costs by at least 10 per cent in the coming months and has put out more and more workers whose jobs are being eliminated on its traditional 30-day list.

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.

Read More: Meta Stocks Hit Lowest Level Since March; Other Social-Media Companies Fall Sharply Too

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.

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Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.

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