The churning continues in meta India This month, the latest senior executives to leave the firm include Rajeev Agarwal, head of public policy at Meta, and Abhijit Bose, head of WhatsApp India. Both of them are stepping down from their roles at the social networking giant in the same month that Meta India VP and MD Ajit Mohan also left the company to join Snap.
Prior to joining Facebook, Mohan was for four years the CEO of Star India, which was re-branded as Disney Star, the owner of the popular Hotstar Streaming Platform.
Reports suggest that Shivnath Thukral will be promoted to the position of Director of Public Policy in India for Meta, which includes its products such as WhatsApp, Instagram and Facebook.
With Meta facing rising costs and the economic slowdown affecting its business, the company has already laid off around 11,000 employees, including those in India. The layoffs came just a week after Twitter’s new owner, billionaire Elon Musk, laid off a large number of employees. There have been many job cuts at other tech firms that were quickly hired during the pandemic.
“Unfortunately, it hasn’t lived up to my expectations,” Zuckerberg said in a prepared statement. “Not only has online commerce returned to earlier trends, but due to the macroeconomic downturn, increased competition, and ad signal loss, our revenue has dropped far less than I expected. I got it wrong and take responsibility for it.”
Zuckerberg also said that he decided to hire aggressively, expecting rapid growth even after the pandemic was over.
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