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Happy Hours, Corporate Swag and Haircuts: Meta Morale Gets a Boost After Layoffs

19Sep

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Technology

Happy Hours, Corporate Swag and Haircuts: Meta Morale Gets a Boost After Layoffs

[ad_1] Meta Platforms Inc. employees are slowly starting to enjoy coming into the office more, bouncing back from a morale crisis that set in after 20,000 of their teammates were laid off over the past year. One reason: the company has revived a number of popular pre-pandemic perks, from branded T-shirts to happy hours.Workers have spent most of the year fearing for their jobs during rolling cuts. Productivity slowed because employees were unsure what to work on, or if they should be working at all. Employees that survived the layoffs were sad that their friends were no longer at the company, and that the perquisites — the little extras that made work fun — were reduced, multiple current and former workers said. Now, entire divisions of Meta, which owns Instagram, WhatsApp and Messenger...

Meta delays setting team budgets as Facebook parent plans fresh round of layoffs -FT

[ad_1] Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday. In recent weeks there had been a lack of clarity surrounding budgets and future head count, the FT reported, citing two Meta employees familiar with the situation. Meta did not immediately respond to a Reuters request for comment outside of normal business hours. Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency." The WhatsApp owner had cut more than 11,000 jobs or 13% of its workforce in November, following such tech companies as Amazon. com Inc and Microsoft Corp which have ann...

Surprise! Facebook Parent Meta Layoffs Seen Saving Only a Small Fraction of Losses

[ad_1] Meta Platforms Inc.’s first major layoffs won’t be nearly enough to get the company back to being as profitable as it was just two years ago, according to analysts. Meta Platforms Inc.'s first major job cuts won't be nearly enough to get the company back to being as profitable as it was just two years ago, according to analysts. Meta laid off 11,000 workers on Wednesday. Chief Executive Officer Mark Zuckerberg said he bore responsibility for growing the company too quickly, on a failed bet that the increase in social media activity and online shopping during the pandemic would cometa jobntinue. “I got this wrong,” he said. But at the end of a difficult day for thousands of employees, the company -- parent to social media giants Facebook, Instagram and WhatsApp -- is still ...