Meta plans to reduce its global workforce by approximately 5%, accelerating its typical performance-based cuts. This decision, announced by Mark Zuckerberg, anticipates a challenging year ahead for the company. The affected roles will not be refilled until later in 2025. The specific geographic distribution of the layoffs remains undisclosed.
California’s unemployment rate is now the highest in the country, and as a resident of this state, I can feel the impact firsthand. Looking at the data provided, it’s evident that farm labor is a significant driver of this increase, along with the struggling real estate sector. As someone in the tech industry, I can relate to the feeling of impending doom as layoffs continue to plague the sector. The excessive hiring practices of tech companies aiming to boost executive profiles are now hurting profits, resulting in a wave of job losses.
The discrepancy in jobs reports is surprising, with initially reported job gains being adjusted to a much lower number.… Continue reading
John Q. Hosedrinker