The logo of Meta, the operator of the Facebook and Instagram social networks, at the company's headquarters in Menlo Park, California.
New York – American Internet company Meta Platforms, which owns Facebook, for example, is starting its third and final round of layoffs. A source familiar with the situation told Reuters. The company announced in March that it would gradually eliminate 10,000 jobs.
In March, Meta was the first of the large technology companies to announce the second wave of mass layoffs, having laid off more than 11,000 employees already in the fall. The cuts have reduced the number of workers to roughly the level of mid-2021. The company previously recruited heavily, and has doubled the number of employees since 2020.
The announced layoffs should significantly affect people who work in advertising sales and marketing. According to Reuters, some of them announced their statements on Twitter today.
Meta CEO Mark Zuckerberg said in March that most of the second-round layoffs would take place over several months and would largely end in May. Some smaller rounds could continue after that, he said.
Overall, the cuts hit non-engineering positions the most, reinforcing the primacy of those writing code at Meta, Reuters reported. In March, Zuckerberg promised a “substantial restructuring” of business teams and a return to a “better ratio of engineers to other roles”.
About 4,000 employees lost their jobs in the April layoffs, Zuckerberg said. Recruitment teams saw modest layoffs in March.
Layoffs at Meta followed months of weakening revenue growth amid high inflation and a slowdown in digital advertising following its pandemic boom. The firm is also investing billions of dollars in its Reality Labs unit focused on the digital metaverse universe. This part lost 13.7 billion dollars (300 billion CZK) last year. Other investments are going into a project whose goal is to adapt the infrastructure to support work with artificial intelligence.