- The Facebook group Meta wants to cut around 10,000 jobs in a second wave of job cuts.
- In addition, almost 5,000 vacancies are not to be filled.
- This was announced by Meta CEO Mark Zuckerberg in an email to employees.
Zuckerberg acknowledged in the email to employees released on Tuesday that such upheavals created “uncertainty and stress” in a company. In the coming months, managers would present restructuring plans, Zuckerberg wrote. The aim is to stop projects with low priority and slow down the pace of new hires.
Meta had already cut 11,000 jobs in November, which was around 13 percent of all employees at the time. Jobs are also to be cut internationally. It is not yet clear whether the Zurich location will be affected by the dismantling.
Legend:
Meta CEO Mark Zuckerberg is making radical cuts.
Keystone/AP Photo/Francois Mori
After online giants such as Google, Microsoft and Amazon cut thousands of jobs in recent months, Meta is now resorting to a second wave of layoffs.
During the Covid pandemic, Meta hired new employees on a large scale. From the end of 2019 to the time of the last wave of layoffs at the end of 2022, the number of jobs almost doubled.
Great pressure on the tech industry
Meta senses the reluctance of advertisers who are more careful with their money. For example, the Tiktok app is a strong rival in the battle for advertising revenue. Apple’s measures to protect privacy on the iPhone are also a thorn in Facebook’s side.
At the same time, Meta invests many billions in the development of virtual “Metaverse” worlds. In the past year alone, the corresponding “Reality Labs” division posted an operating loss of a good 13.7 billion dollars.