Facebook, Whatsapp, Instagram and Twitter Ends! | Tamil | Explained | Thangavel Thivakar

Mark Zuckerberg, CEO of Meta, the parent company of Facebook, Instagram and WhatsApp, said in a statement, “Recently, our revenue has declined slightly for the first time. So we have to fix it,” he said. Meta has made its first budget cuts since its founding in 2004.
META CEO Mark Zuckerberg confirmed that the layoffs have begun since Wednesday morning. The news comes a day after Mark Zuckerberg held a key meeting with the company's top executives on Tuesday.
Meta CEO Mark Zuckerberg took responsibility for the mass layoffs. He also noted that Meta had overstaffed the ice due to his misguided ideas and overconfidence in growth. Zuckerberg noted that recruiting and business teams are among those facing layoffs.
Meta employees were expected to be informed of the layoffs in a company-wide email sent this morning. It has also been said that the dismissed employees will be given four months salary. The impending mass layoffs are also said to be the first large-scale layoffs in the company's 18-year history.
The move comes as Meta's market cap has plummeted and its shares have seen a 70 per cent fall in value. He also said that while the company has stopped hiring people, it will be extended. News of the layoffs at Meta comes a week after another tech giant, Twitter, laid off more than 50 percent of its total workforce after Elon Musk, the world's richest man, took over.
Elon Musk took over Twitter, firing its CEO Barak Agarwal, its CFO and several other top executives. Following this, it has been reported that many employees are being fired without any prior notice. Employees working in Twitter's office in India are also not spared from this retrenchment.
While it had announced its acquisition of Twitter last April, confusion within the company and various legal issues delayed its acquisition. Now all the issues have been resolved and recently Elon Musk has taken full control of Twitter. After acquiring Twitter, the first step was to fire its CEO and director.
Just days after acquiring Twitter, Twitter has fired employees without any warning. A lawsuit has been filed against Twitter alleging that the dismissal without notice is illegal and that no compensation was paid to them.
Twitter does not operate in accordance with the United States Labor Code and the laws of the State of California. The law requires that an employee be given 60 days notice in writing prior to termination. But it is noteworthy that Twitter company did not follow any of this.
“On November 4th, Twitter ordered the layoffs of various employees not only in the US but also around the world. It is also mentioned in Twitter's terms and conditions that if an employee is fired, they will be given 60 days' salary and their due deductions. But after Elon Musk bought Twitter, no one was given any reward or compensation as mentioned in the terms.
Earlier, Microsoft had laid off around 1,000 employees across multiple divisions in October this year.

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