MARK ZUCKERBERG-LED social media giant Meta, formerly knownas Facebook, is going through a tumultuous period globally. It has laid off around 11,000 employees across geographies while also dealing with decreasing investor confidence amid falling revenues and increasing expenditure. In India, while business has been good, with the social media giant reporting 2 billion in gross advertising revenues for FY22 a jump of 74 per cent year-on-year), it has been hit by some top-level exits.
First, Ajit Mohan, who was Vice President and Managing Director of Meta India, left the company in early November, after close to four years at the helm. A little over a week later, Abhijit Bose, who was Head of India, WhatsApp, also stepped down after a stint of nearly four years. Along with Bose, Rajiv Aggarwal, who was Meta India’s Director of Public Policy, also quit.
These top-level exits were unexpected, especially in light of the company’s performance in India, say those tracking the company. Meta is India’s biggest media company. Globally, it is struggling at the moment but in India, the company has a strong base which is likely to remain the same,” says Barnik Chitran Maitra, Managing Partner of consultancy firm Arthur D. Little, India.
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Denne historien er fra December 25, 2022-utgaven av Business Today India.
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