Meta, Google puts employees on ‘notice period’ to cut costs

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Meta, Google puts employees in

Facebookthe parent company of Meta and Google are downsizing to cut costs amid an economic downturn, apparently placing some of them on traditional 30-60 day “lists” to find a new role within the company or leave.

Meta plans to cut costs by at least 10% in the coming months and has laid off more and more workers whose jobs are being cut on its traditional “30-day list”, reports the Wall Street Journal.

On the other hand, Google’s parent company Alphabet reportedly rolled out a similar approach, typically giving workers 60 days to apply for a new role if their jobs were to be cut.

“Facebook’s parent company is looking to cut costs by at least 10%, people familiar with the plans said, while Google has asked some employees to apply for new jobs,” the report said.

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Meta has a “long practice” that employees whose positions are cut are fired if they don’t find a new job internally within a month.

The Mark Zuckerberg-led company had 83,553 employees at the end of the second quarter of this year.

“Google generally gives employees 60 days to apply for other positions at the company if their jobs have been cut,” the report said.

Last month, Google laid off more than 50 workers at its Area 120 incubator and gave them an additional 30 days to find other jobs with the company.

A Google spokesperson reportedly said nearly 95% of employees found new positions within the notice period.

Alphabet and Google CEO Sundar Pichai aim to make the company 20% more efficient by hinting at job cuts as the tech giant recently canceled plans for its in-house research and development (R&D) division. called Area 120.

Addressing the Code Conference meeting in the United States this month, Pichai said the more the company tries to understand macroeconomic conditions, the more uncertain it feels about it.

“Macroeconomic performance is correlated with advertising spending, consumer spending, etc.,” he told the audience.

Google has suspended the hiring of new employees and reportedly told some existing employees to “train or leave” if expectations are not met.

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In a corporate post viewed by Insider, Google Cloud sales management threatened employees with a ‘comprehensive review of sales productivity and productivity in general’ and that if next quarter results ‘don’t look up, there will be blood in the streets’ .

As major tech companies lay off employees and freeze new hires, Zuckerberg said in July that the company plans to steadily cut headcount growth over the next year.

Admitting that the social network has entered an economic downturn that will have a broad impact on the digital advertising industry, Zuckerberg said many “teams will shrink so we can shift energy to other areas within of the company”.

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