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IT companies wreak havoc, 18,500 employees of Facebook and Twitter out of jobs in a week
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IT companies wreak havoc, 18,500 employees of Facebook and Twitter out of jobs in a week

Facebook laid off: Within a week, two of the world’s largest companies have fired 18500 employees. Facebook (meta) today fired its 11,000 employees, while on November 4, Twitter showed the way out of its 7500 employees. Twitter fired about 180 employees from India. Worse times are about to come. IT companies are going to wreak havoc. According to a report in Outlook, Amazon has frozen hiring, while Netflix and Microsoft are also going to lay off their employees.

50% of Twitter and 13% of Meta people lost their jobs

Till 30 September, a total of 87 thousand employees were working in META. Today, after evacuating more than 11000 thousand people, a total of 13% people have been fired. At the same time, Twitter has shown the way out to 50% of its employees. On retrenchment of employees, Mark Zuckerberg, CEO of Meta said that for the first time in the history of Meta we are going to make the most difficult decision. We have decided to lay off 13% of Meta employees. That is, about 11 thousand employees.

Which companies turn next?

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The havoc of IT companies continues. From Indian to foreign companies, employees are being fired everywhere. According to a report by Outlook, Amazon, one of the big giants, has stopped hiring. At the same time, Microsoft, Snap and Netflix may soon announce layoffs. By the way, since last month Microsoft had shown its 1000 employees the way out. Netflix laid off about 500 employees. Snapchat has laid off 1000 people. There are many more companies in this list, which may soon reduce their workforce.

Why are tech companies doing layoffs?

The biggest question is, why are tech companies laying off so many? Two years ago, when Corona came in March 2019, technology started moving towards its peak. When the terrible phase of Corona came, tech companies started getting rich. Everything became impossible without technology. Due to this, the revenue of these companies increased manifold and in proportion to this the hiring was also fierce. But now things have changed. The profits of the companies have started declining. Because of this, these companies have to lay off to avoid losses.

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