Meta continues to face the churn in India this month, as the latest senior executives to leave the firm include the public policy head at Meta, Rajiv Aggarwal and WhatsApp India head Abhijit Bose. These two are stepping down from their roles at the social networking giant during the same month when Ajit Mohan, VP and MD at Meta India also exited the company to join Snap.
Before joining Facebook, Mohan was the CEO of Star India for four years which was rebranded to Disney Star– owning the popular Hotstar streaming platform.
Reports suggest that Shivnath Thukral will be elevated to the post of director of public policy in India for Meta which includes its products like WhatsApp, Instagram and Facebook.
Meta has been facing mounting expenses and with the economic slowdown affecting its business, the company has already laid off around 11,000 employees, which includes the Indian staff as well. The layoffs come just a week after Twitter’s new owner, billionaire Elon Musk, laid off a large number of employees. Several job cuts have occurred at other tech firms that hired quickly during the pandemic.
“Unfortunately, this did not play out the way I expected,” Zuckerberg said in a prepared statement. “Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”
Zuckerberg also stated that he made the decision to hire aggressively, anticipating rapid growth even after the pandemic was over.
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