Goalthe parent company of social media Facebook and instagramwill cut 10,000 more jobs, after a first wave of 11,000 layoffs in early November, the group’s CEO announced Tuesday, mark zuckerberg.
In addition, the Menlo Park, California-based giant will eliminate 5,000 currently vacant positions from its organization chart and for which there will be no hiring, Zuckerberg said in a statement.
The list of those affected will be known at the end of April and the restructuring plan will run until the end of the year.
With these two waves of layoffs, Meta will have reduced its staff by 24%, a 180 degree turn in its policy since the group had never launched a layoff plan in its almost 20 years of existence.
For Zuckerberg, the decision is justified by the need to “make (Meta) a better technology company” and “Improve financial results in a difficult environment, in order to carry out our long-term vision.”
The co-founder of Facebook and visible head of the social network warned in February that 2023 must be “the year of efficiency” for Goal.
In addition to cutting jobs, the company will slow the pace of hiring, added Zuckerberg, who also expects “cancel non-priority projects”.
The group had already announced a hiring freeze until the end of March 2023.
After showing unusual growth since its creation, Facebook, which became Meta at the end of 2021, has suffered from the fall in online advertising since last year.
The movement is accentuated by the change in the operating system of the iPhone (iOS), which no longer allows the platform to collect as much data about its users as before.
In addition, Facebook and Instagram are facing increasing competition, especially from the video platform TikTok, which is cutting into its market share.
In addition, Meta suffers, like the entire technology industry, the rise in interest rates, which penalizes a sector that needs cash to finance its development.
In 2022, Meta’s turnover contracted 1%, to 116.6 billion dollars.
Source: AFP
Source: Gestion
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