• Thursday, July 25, 2024
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Meta set to conduct another round of layoffs

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Meta, the parent company of Facebook, is set to conduct another round of layoffs on Wednesday, sources close to the company told Vox.

According to the source, the information was contained in an internal memo posted on a Meta employee message board on Tuesday evening. The company told employees that the layoffs will start on Wednesday and will impact a wide range of technical teams including those working on Facebook, Instagram, Reality Labs, and WhatsApp.

The layoffs came after Mark Zuckerberg, Meta CEO, announced in March that the company would be cutting 10,000 more jobs in the coming months, on top of the 11,000 cuts in November.

“This will be a difficult time as we say goodbye to friends and colleagues who have contributed so much to Meta,” Lori Goler, Meta’s head of people, said in the memo.

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The memo stated that Meta employees in North America will be notified by email between 4 am to 5 am Wednesday morning and the timeline will vary county to county outside of North America, while some countries will not be affected.

Previously, Zuckerberg said that the cuts in April would impact tech departments, while another planned round of cuts in May will impact the business side of the company.

At the end of last year, Meta, which is the parent company of Facebook, Instagram, and WhatsApp, had around 86,000 employees.

The CEO said the cut is part of plans for a “year of efficiency” in 2023.

Giant tech companies like Meta are now reducing workforce ans adjusting to plans after nearly two decades of almost uninterrupted growth.

Meanwhile, the global employee layoff in the tech industry is seen approaching the overall record of 2022 in three months.

According to layoff data released by Layoff.fyi, a global layoff tracking platform, 152,858 tech staff have been laid off within the first three months of 2023.

The layoff tracking platform shows that in 2022, a total of 161,408 tech staff were laid off from various tech platforms. This data is outperforming the current year with a difference of 8,550 layoff.

However, most of these layoffs were carried out by giant tech companies globally including Facebook, Meta, Alphabet, among others.

The layoffs also affected companies in Nigeria and other African countries. Companies like 54gene, Kuda, SWVL, and Jumia have lost CEOs and employees to the meltdown since the layoff period