Declios have been rampant in the last two or three
years,
and Mark Zuckerberg explained the reason for it.
Like companies have gone on a layout presencer,
2021 going up to 2023,
and early signs from this year suggest it is not
going to slow down anytime soon.
The likes of Google, Amazon and even Meta have pulled
the plug on multiple projects,
trimmed their product teams and realigned their plans for the
future.
So what are the major reasons for these layoffs and
when does it end?
Meta CEO Mark Zuckerberg has shared his views on this
matter in a recent interview where he also walks us
through the strategy of a tech companies in the past
few years as they have planned for and after the
pandemic.
Zuckerberg was quoted saying that the first wave of layoffs
during the pandemic were forced after over hiring and the
following Digital Sales act overall business taking a hit.
The meta chief then highlights the sudden change in strategy
from the industry,
where people started seeing the benefits of having a leaner
setup.
While it is understandable that companies decided to cut costs
rather than continue keeping up bloated workforce experts feel that
their decision to layoff people could have been handled in
a gradual manner rather than pushing everyone out of the
door at the same time.
But it seems that being lean is not the sole
reason for these layoffs in the past few months.
Especially since the start of 2024,
where AI has become the primary focus of investment for
most engines.
Zuckerberg interestingly pointed out that AI wasn't the main reason
for his company to lay off 1000 in recent times,
but that tune is likely to have changed with the
dynamics altering in the industry.
To be fair, companies don't see any problem with these
decisions,
especially if their market value goes up,
which means investors want to focus on the business rather
than other aspects.
The Meta Chief is also busy tackling the entry of
Apple with the Vision Pro headset with Chicky Review and
compared with his company's Metaquest headset recently.
So that was all in the video to let us
know your views on this in the comment section below.
Thanks for watching.