Wednesday was a rough day for many Meta employees as the social network began to lay people off after announcing its second round of job cuts within the last six months.
A total of 21,000 job cuts have been announced since November and it’s now hitting service and software-oriented jobs.
"Meta is in a tough position, because while we can all appreciate some of the bets they were looking to make in the Metaverse, the Metaverse, and I don't care what companies enter this, Apple, or others, it is a long way off,” said Ben Bajarin, CEO of Creative Strategies.
But even with Silicon Valley dealing with a long-lasting series of layoffs, there’s a silver lining.
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"Tech-related work is still in demand,” said HR expert, Jenny Morehead.
She said companies, from tech startups to firms outside of tech, are looking for qualified people.
San Francisco State University said it will launch a series of free and discounted classes this summer, aimed at helping people find their next job.
What can those do right now to stay employed?
"Techies, or any employee for that matter, to be very valuable to the organization, should make sure they're doing their job really well, and then of course you can go above and beyond and start doing some of the tasks for your manager,” said Morehead. “That makes you pretty invaluable to a company."
One of the biggest reasons companies announce layoffs is to show investors that they can operate more efficiently. It's brutal, but Meta's stock price has jumped by 250% since it first announced the layoffs back in November.
