TikTok overtook Facebook to cut 11,000 employees

Another apple, TikTok, has added a challenge to the social network Facebook, also known as the social media zine. Meta, a Facebook company that has managed to create a large number of users in a short period, is going to cut its 11,000 employees. It is seen that Yash has gone into losses in the third quarter of the year. Meta currently has more than 87,000 employees. The CEO of the company has apologized to the employees saying that he was forced to fire the employees due to discomfort.

Meta has lost 80 billion dollars in assets this year. He said that he is going to reduce expenses at a time when income is decreasing and spending is increasing. While the number of users on Facebook is decreasing, the number of users of TikTok is increasing day by day. As Tik Tok started to be used excessively, its losses were incurred by Facebook, due to which Facebook had to incur losses. For the first time in the 18-year history of Facebook, its users have decreased. According to pants company Meta Network, in 2021, Facebook’s daily active has dropped to 1.92 billion. In the same period of the previous year, Facebook’s daily active was 1.93 billion.

The mentality has taken out that the income may also decrease due to rival companies like Tik Tok and YouTube. After Facebook’s daily users started decreasing, Facebook’s income also started to suffer. It is said that even after advertisers cut down their ad spending, Mentality is about to experience a loss of income. Meta’s shares also fell by more than 20%. According to the BBC, Meta has suffered a loss of 2 billion US dollars due to the drop in share price. Along with Meta, the share of social media platforms such as Twitter Snap, Internet, etc. has also decreased. Neta’s chief executive officer, Mark Zuberg, said his company is losing revenue, even as the younger Berg moves to a rival company.

For meta advertising after Google, Biswa’s biggest ad platform is in the form of foam. After Apple changed its operating system, Metal was affected, the company said. According to Deb Wohrb, Meta’s chief financial officer, Facebook and Instagram are likely to lose about $10 billion in advertising revenue. Most of Meta’s revenue comes from advertising.

In the coming quarter, Meta has set a target of 27 to 29 billion US dollars. Recently, Tiktok, run by the American company Binance, has challenged Facebook. Recently becoming very popular, Tiktok has 1 billion users. To compete with TikTok, Facebook is increasing its investment in video content, Zurbag says that video and virtual will increase income. Recently, along with Facebook, Tik Tok is also becoming popular among the youth. Facebook, which has been ruling the roost for some time now, is also trying to buy Tiktok.

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