As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult".
Meta has started the major job cut from today onwards and removed 11000 workforces to cut the costs of the company. Mark Zuckerberg said that the company will be paying 16 weeks of base salary along with two additional weeks of salary for each year of service provided to the organisation.
In a mail sent to hundreds of executives, the company's CEO claimed responsibility for the problem of an inflated workforce. Zuckerberg claimed the problem originated from his 'over-optimism' about growth.
Job cuts in the technology industry are accelerating, nearing levels seen in the early stages of the Covid-19 pandemic, as companies both large and small curtail ambitions and brace for tough times ahead.