Meta Platforms Inc META last week announced 11,000 job cuts — or 13% of its workforce — with one employee saying he was laid off just two days after moving from India to Canada for his new position.
What happened: Software engineer Himanshu V. shared a post on LinkedIn on Nov. 10, explaining how he was laid off two days after relocating to Canada, seemingly swept up in the company’s mass layoffs.
“What's next for me?” Himanshu wrote. “Honestly, I have no idea! I'm looking forward to whatever comes next.”
His post has garnered over 23,000 reactions and nearly 1,100 comments.
Meta CEO Mark Zuckerberg admitted last week that he was responsible for the widespread layoffs and that the company overinvested during the COVID-19 pandemic in the mistaken belief that the astronomical revenue growth of 2020 and 2021 would continue indefinitely.
“At the start of COVID, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended,” he said.
Read Also: Zuckerberg Says He Was More Thoughtful About Meta Layoffs Than Musk's Job Cuts At Twitter
“I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected.”
Why It Matters: While Himanshu said he doesn't know what’s next for him, according to his LinkedIn profile, he previously worked at tech companies including GitHub and Adobe.
Unfortunately, Himanshu was not the only person to relocate from India to Canada for Meta, to be laid off very shortly after.
On Nov. 11, software engineer Vishwajeet Jha stated on LinkedIn that he had worked at Meta for three days before being let go.
Another software developer, Neelima Agarwal, who relocated from India to Canada in November, said that she was let go by the business just two days after starting.
Photo: Created with an image from Anthony Quintano on Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.