New round of layoffs at Meta: another 10,000 jobs gone

Meta is going to cut ten thousand jobs again. The parent company of Facebook, Instagram and WhatsApp announced this on Tuesday. Meta also decides not to fill another five thousand vacancies that are currently open. At the end of last year, the company also sold eleven thousand jobs, about thirteen percent of all workers at the time.

“This is getting annoying, we can’t get around that,” said director and founder Mark Zuckerberg on Tuesday. “It means saying goodbye to talented and passionate colleagues who have been a part of our success.” According to Zuckerberg, the layoffs are necessary to make Meta a “more technical company” and to achieve better business results in the long term. Earlier, the foreman said he did not expect any job losses.

Meta has dominated the social media market with Facebook since 2006, acquiring Instagram in 2010 and WhatsApp in 2014 for a combined total of more than 20 billion dollars (about 18.7 billion euros). The rain of successes began to subside in early 2022, when the number of Facebook users declined for the first time, followed by a drop in revenue and a freefall in Meta share. In addition, Meta is facing competition from Chinese rival TikTok, which is mainly used by young users. In November, Meta still had around 87,000 jobs worldwide.

Meta isn’t the only major tech company in financial trouble. Tens of thousands of people have also lost their jobs in mass layoffs in recent months at Alphabet, the parent company of Google, Microsoft and Amazon.

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