Canadian staff also hit by Meta's layoffs

Source: Meta

The long-rumoured Meta layoff has happened, and several Canadian employees of the company were included. We don't have a specific number of how many were affected, but 11,000 people from the company were laid off globally. Meta announced this 13% workforce cut in hopes to become "leaner and more efficient." 

Canadian staff members in Meta's communications, client relations, human resources, and creative partnerships were among those who posted about their layoffs on LinkedIn. The cuts were a result of a miscalculation on the growth of e-commerce, which many tech companies have made. The initial surge during the pandemic had CEO Mark Zuckerberg and his team making growth predictions that didn't pan out. 

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Meta reportedly plans mass layoffs this week

Meta might be laying off several thousand of its employees this week. The Wall Street Journal cited unnamed sources familiar with the company's plans that an announcement might come as soon as Wednesday. If accurate, these layoffs will be the first large-scale workforce reduction in its 18-year history. Facebook's parent company is reportedly looking to slash its costs by at least 10% within the next few months.

These cost-cutting efforts show how companies, which make money through ads, are looking to rein in spending following the tech industry's rapid growth during the pandemic. Meta currently employs 87,000 people. And its CEO Mark Zuckerberg hinted during its third-quarter earnings call that job cuts might be imminent.

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Shaw temporarily lays off 10% of its employees due to COVID-19

Calgary-based Shaw Communications announced on Tuesday that because of the COVID-19 pandemic, it'll temporarily lay off 10% of its workforce. The company said the layoffs will begin on Thursday, April 16, affecting fewer than 1,000 of its 10,000 employees. Most of the laid-off staff work in retail and sales roles. Shaw and Shaw-owned Freedom Mobile closed most of its retail stores to comply with government directives to help slow the spread of the virus.

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Huawei will reportedly lay off hundreds of employees at its US R&D facilities

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The implications of the US blacklisting on Huawei’s business is reportedly affecting the jobs it offers in the country. According to a Wall Street Journal report, the company will be laying off hundreds of employees at Futurewei Technologies, its U.S. research and development lab. The company has begun informing some staff from its offices in Texas, Silicon Valley, and Washington State that they are letting people go. Some of their Chinese employees are being given the option to return home and stay with the company. Other layoffs are also reportedly planned in the future.

Source: The Verge