After Twitter, here is one more social media giant that is going to lay off thousands of employees. It is Facebook's parent company Meta.

Media reports emerging from the West have stated that Meta is all set to start laying off thousands of employees this week. The lay-offs are going to be large-scale in nature, the reports say.

Meta has got about 87,000 employees on its rolls. The COVID-19 pandemic has barely impacted the growth of digital and social media companies. Therefore, they were thought to be aloof from the economic downturn in the West. Tech companies apparently don't require such huge staffing. It may be argued that large-scale lay-offs make business sense.

Twitter recently started firing employees left, right and centre. Twitter India has fired 90% of its staff. That said, there are reports that many of the retrenched employees are going to be reinstituted. They were apparently shown the exit door by "mistake". Is it a mind game playing out?