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Are the layoffs paying off or not? Virtualnastvarnost.net wrote something interesting about Meta, Microsoft and Coinbase. The trending layoffs in tech companies was a piece of major world news in the year 2022. It affected local and international, small-scale and large-scale enterprises, as well as the society from the family unit. Meta, Microsoft, and Coinbase streamlined the main reason for partaking in this provocative action from the many available reasons influencing the tech world. The impact of this decision can be felt on the economic status of many homes across the globe, both directly and indirectly. The unending faith of Mark Zuckerberg among many others in creating the new future through virtual reality has been the major frontliner of these layoffs in many tech companies.
The bold decision Meta made to lay off about 11,000 of their active workforce became a strong landmark resulting from the massive investments the metaverse has received in resources within the past year. In business, it is quite unsurprising for layoffs to occur after a major economic downturn of a business structure. However, these numbers were quite incredible for a single organization no matter how large of a scale it may be. At this point, it will be quite fair to ask if globalization is indeed helpful. Globalization has its perks, but just like this practical situation, it has a tremendous negative feedback on the globe. The effect of this decision made by tech companies has caused a major imbalance in the world of work.
The advent of VR devices has begun taking the waves in the tech industry. Not only is virtual reality taking the reins beyond the frame of augmented reality, but virtual reality is creepily replacing the need for active physical collaboration among humans. This is the case of the partnership signed for existence between Meta and Microsoft in October 2022. This partnership has further defined the need to incorporate the metaverse into the world of work. According to the President of Microsoft collaboration apps and platforms, Jeff Teper, this partnership aims to enable people to connect and collaborate “as though they are together in person”. The question here is, will this build or decline global human relationships?
You should know that the existence of virtual reality was not just discovered. Its full force in the marketplace as a frontliner, through the world of work, is the cause of the global disturbance. The partial influence of virtual reality extended into creating digital money in 2008; the likes of cryptocurrency. This was the structure on which Coinbase was developed in May 2012; a virtual trading platform for digital currencies anywhere in the world. As the world transcended more into the digital space, there was massive growth for Coinbase. According to Brian Armstrong, the co-founder of Coinbase, the layoff was necessary to meet up with the growing demand for effectiveness within the organization. The ratio of the work available to the number of the active workforce became ineffective due to the economic downturn across the globe. See more on virtualnastvarnost.net