12.6 C
London
Tuesday, May 21, 2024

Meta, the owner of Facebook and Instagram, is laying off 10,000 workers again

Must read

- Advertisement -


Tech giant Meta said on Tuesday that it plans to lay off about 10,000 workers. This is another round of job cuts at the owner of Facebook and Instagram.

As a first step, layoffs in the company’s recruitment team are planned, which will take place this week. After that, the technology and business departments will be restructured in April and May. In November, Meta laid off over 11,000 jobs. people, which was then 13 percent. company’s workforce at the time.

Meta won’t fill either about 5 thousand vacancies – Zuckerberg said in a memo posted on the company’s website. He stressed that this will be a difficult step, but the company has no other choice.

The “Year of Efficiency” in Meta

Over the past few years, Meta (previously just Facebook) has been hiring staff all the time. They were needed to develop new products and services as well as maintain old ones. However, it has comeyear of effectiveness“as recently Mark Zuckerberg called 2023, and the company began to cut jobs. At its peak last year, Meta employed just over 87,000 people. full-time employees.

- Advertisement -

In a situation where the situation in the global economy deteriorated and less money was spent on online advertising, the founder of the social media giant decided to stop the process of increasing the number of employees. Employee allowances were reduced, and after the November layoffs (mainly for recruitment teams and business departments), he recommended more.

Managers managing managers

Zuckerberg made it clear in February that he didn’t want the company to be too much.managers managing managersHe said he took responsibility for last year’s layoffs and pointed out that his excessive zeal, which came with the exponential growth of users at the beginning of the pandemic, was behind it.

Of course, it must not be forgotten that the situation in Meta was influenced by the company’s attempts to create a new “metaverse”. This includes Thousands of new people were hired to implement this costly project, but so far the results have been far below expectations. It is estimated that so far the company has lost at least $26 billion due to this project.

Layoffs in the world of technology

Significant layoffs in technology companies appeared already at the end of 2022 and, unfortunately, for employees in this industry, there is still information about more – from giants such as Google, Twitter, Amazon, Zoom or Microsoft, to smaller companies or those that are mentioned in Poland is not heard much. On Twitter itself since Elon Musk took over in October last year, employment fell by 70 percent.

The arguments are always similar. Uncertain economic situation and the need to maintain financial discipline to stay on a profitable course.

So far, as summarized by the industry portal Techcrunch, 84,714 people were laid off in January alone, and 36,491 in February. In total, 121,205 people from the technology industry lost their jobs in the first two months of the new year.

Main photo source: Page Light Studios / Shutterstock.com



Source link

More articles

- Advertisement -

Latest article