Metta, the owner of the social media app Facebook, has announced that it will cut 10,000 jobs this year.

According to news agency Reuters, it is the first major technology company in the world to announce a second round of job cuts due to the industry’s poor economic conditions.

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The owner of the company Zuckerberg said that more triple cuts will be announced in the next two months. However, some job cuts will continue until the end of the year.

He said, ‘Ours Company In most of its history, we have seen rapid year-over-year revenue growth and had the resources to invest in many new products.

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He said that ‘we must realize the fact that and prepare ourselves for the fact that the new economic realities will be the same for the next several years.

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Meta Company The shares have increased by 6 percent. The expected wide-ranging job cuts are part of a restructuring that will also eliminate the company’s plan to add 5,000 new jobs and eliminate middle-level management along with shedding lower-priority projects.

In the first phase, the company cut 11,000 jobs last year, which was 13 percent of Meta’s workforce or employees.

Earlier, the company had hired thousands of employees and in 2020, the number of workers has doubled.