Meta Recently Begins its Third Round of Layoffs

1.8 M 

In the U.S. growth of the immigrant labor force rose to 18.1% which is up from 17.4% compared to the prior year, this is the highest level in 27 years of records. The immigrant labor force currently looking for jobs increased by 1.8 million, or 6.3%, in 2022.    

10% 

CEO Roz Brewer announced that the parent company of pharmacy giant Walgreens is laying off 504 corporate employees or 10% of its corporate workforce and mentioned that there will be no layoffs at Walgreens stores. These layoffs are crucial to streamline the business.   

6,000 

Meta recently begins its third round of layoffs, and the company plans to cut 6,000 jobs. This round of layoffs will seriously affect Meta's business groups. In April Meta reported Q1 sales of $27.91 billion, which is risen by 3% from the same quarter of the prior year. 

7% 

 According to the survey, despite of increase in layoffs and a slowing economy, 2023 college grads of 7% are confident in finding a job. The number of Americans filing new claims for jobless benefits have been reached the highest level since late 2021. 

4.7% 

As per Labor Department records the unemployment rate for Black workers dropped to 4.7% in April. The overall jobless rate fell to 3.4%, which is the lowest since 1969. The unemployment rate for Black Americans also decreased in 2019 but then it has recorded at 5.3%.