The whole world is still suffering from the aftermath of the Covid-19 pandemic that has adversely affected millions of lives and international economies. Businesses are still making strategies to recover the losses and grab a fast growth pace, but now the fear of global recession has made the situation even worse. Today, big tech giants are forced to move towards cost-cutting strategies to keep their businesses away from heavy losses.
In a similar event, on November 9, one of the biggest tech giants, Meta, the parent company of Facebook, Instagram and Whatsapp laid off its 11,000 employees, which is 13% of the total workforce. While the numbers are so big and shocking, there were many events that unfolded. Let’s take a deep look at it.