The layoffs are part of a wider restructuring at Meta that will see the company flatten its organizational structure, cancel lower priority projects and reduce its hiring rates
The move underscores Zuckerberg’s push to turn 2023 into the “Year of Efficiency” with promised cost cuts of $5-billion in expenses to between $89-billion and $95-billion.
A deteriorating economy has brought about a series of mass job cuts across corporate America: from Wall Street banks such as Goldman Sachs and Morgan Stanley to Big Tech firms includingThe tech industry has laid off more than 280,000 workers since the start of 2022, with about 40 per cent of them coming this year, according to layoffs tracking siteMeta, which is pouring billions of dollars to build the futuristic metaverse, has struggled with a post-pandemic slump in advertising spending from...
Meta’s move in November to slash headcount by 13 per cent marked the first mass layoffs in its 18-year history. Its headcount stood at 86,482 at 2022-end, up 20 per cent from a year ago.Your Globe
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta to block access to news on Facebook, Instagram if Online News Act adopted as-isCanadians would no longer be able to access news on Facebook or Instagram if the federal government’s proposed Online News Act passes in its current form, the parent company behind the two popular social media platforms said.
Read more »
Zuckerberg was warned on social media addiction, filing saysEmployees at Meta Platforms Inc. and ByteDance Inc. were aware of harmful effects of their platforms on young children, according to claims.
Read more »
Zuckerberg was warned on social media addiction, filing saysEmployees at Meta Platforms Inc. and ByteDance Inc. were aware of harmful effects of their platforms on young children, according to claims.
Read more »
Zuckerberg was warned on social media addiction, filing saysEmployees at Meta Platforms Inc. and ByteDance Inc. were aware of harmful effects of their platforms on young children, according to claims.
Read more »
Zuckerberg was warned on social media addiction, filing saysEmployees at Meta Platforms Inc. and ByteDance Inc. were aware of harmful effects of their platforms on young children, according to claims.
Read more »