Meta to cut 10% of jobs, or 8,000 employees, report says

Meta to cut 8,000 jobs starting May 20, internal memo reveals, marking another round of deep cuts. | Contesto: cronaca

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• Meta to cut 10% of jobs, or 8,000 employees, report says

Contesto

Meta is preparing to lay off approximately 8,000 employees, or roughly 10% of its workforce, with the sweeping job cuts set to begin on May 20, according to an internal memo obtained by TechCrunch. The move represents the latest significant reduction at the social media giant, which has been under intense pressure to streamline operations and cut costs amid a challenging advertising market and a broader tech industry downturn. The memo, distributed to staff and reviewed by TechCrunch, did not specify which departments or regions would be most affected, but the scale of the cuts suggests that virtually every corner of the company will feel the impact. This round of layoffs follows a previous reduction of 11,000 jobs in November 2022, when Meta first announced a major restructuring effort under CEO Mark Zuckerberg, who has described 2023 as a “year of efficiency.” The company has been grappling with slowing revenue growth, mounting losses from its metaverse investments, and increased competition from rivals like TikTok. Meta, which owns Facebook, Instagram, WhatsApp, and Messenger, has seen its workforce swell to over 87,000 employees during the pandemic-era hiring spree. However, as digital advertising spending softened and interest rates rose, the company was forced to pivot sharply. The layoffs are part of a broader trend across the tech sector, with companies like Google, Amazon, and Microsoft also announcing significant job reductions in recent months. For Meta, the cuts are aimed at flattening management layers, eliminating low-priority projects, and improving operational efficiency. The timing of the layoffs—just weeks before the start of summer—adds to the uncertainty among employees, many of whom have already endured months of speculation about job security. The memo did not detail severance packages or support measures for affected workers, but in previous rounds, Meta offered generous severance, including 16 weeks of base pay plus additional compensation for tenure. The company has also faced criticism for its handling of layoffs, including allegations of abrupt notifications and lack of transparency. The implications of these cuts extend beyond Meta’s...

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Categoria: cronaca