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Facebook owner Meta has become the latest tech company to slash its workforce. But unlike other job cuts, those who were fired were chosen at random using an algorithm, according to a Friday report.
“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” the CEO said.
The contractors who will be leaving the firm work with Facebook through Accenture, a company with a $500 million annual deal with the social media giant to provide workers with content moderation and business integrity.
Some Facebook contractors who lost their jobs last month said they were not offered severance or other work. However, they were told that the job cut wouldn’t affect their ability to be rehired by Accenture in the future.
The layoff is part of Meta’s plan to reduce operational costs amid declining revenue. Last month, the company’s metaverse division Reality Labs reported its second consecutive quarterly loss this year. As reported, the division lost $2.8 billion in Q2 after losing $2.9 billion in the first quarter.
Earlier this week, Zuckerberg shared an image announcing the expansion of Meta’s $10 billion metaverse project Horizon Worlds in France and Spain. However, the announcement received multiple backlashes from users who thought the image that was supposed to depict Meta’s virtual world was not aesthetically pleasing.
~ By William A. Frederick ~
Facebook owner Meta has become the latest tech company to slash its workforce. But unlike other job cuts, those who were fired were chosen at random using an algorithm, according to a Friday report.
Meta Cuts Jobs at Random
The unlucky contractors were informed about the decision in a video conference call without an apparent reason for being sacked. However, Meta CEO Mark Zuckerberg recently noted that the company would sack underperforming employees after an aggressive performance review.“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” the CEO said.
The contractors who will be leaving the firm work with Facebook through Accenture, a company with a $500 million annual deal with the social media giant to provide workers with content moderation and business integrity.
Saving Costs
According to Business Insider, the laid-off employees will stop working at the firm on September 2 but will get paid through to October 3. Meanwhile, Meta’s job cuts started last month when the company laid off some contractors hired through Accenture.Some Facebook contractors who lost their jobs last month said they were not offered severance or other work. However, they were told that the job cut wouldn’t affect their ability to be rehired by Accenture in the future.
The layoff is part of Meta’s plan to reduce operational costs amid declining revenue. Last month, the company’s metaverse division Reality Labs reported its second consecutive quarterly loss this year. As reported, the division lost $2.8 billion in Q2 after losing $2.9 billion in the first quarter.
Meta’s Metaverse Project Faces Criticisms
But despite the losses, Zuckerberg is still bullish on the metaverse and intends to continue investing in the sector because of the endless potential of the virtual world. This is partly why Meta recently partnered with three famous drag queens to bring drag to the metaverse.Earlier this week, Zuckerberg shared an image announcing the expansion of Meta’s $10 billion metaverse project Horizon Worlds in France and Spain. However, the announcement received multiple backlashes from users who thought the image that was supposed to depict Meta’s virtual world was not aesthetically pleasing.
~ By William A. Frederick ~
