- Meta Platforms begins the latest round of layoffs, with the goal of cutting 10,000 jobs in total.
- The company has been restructuring its teams, prioritizing engineering and cutting back on features like content design.
- The cuts are due to slowing growth at Meta and declining investments in digital advertising due to the pandemic and rising inflation.
Meta Platforms began the third and final round of mass layoffs on Wednesday.
According to the plan drawn up by Mark Zuckerberg’s company in March, the idea was to get rid of 10,000 jobs in three batches. Two of them have already materialized and the last one has started now, with 4,000 employees who are still working at the technology giant that owns Facebook, Instagram and WhatsApp.
It must be remembered that in October 2022, Meta had laid off another 11,000 people, in the company’s first large wave of layoffs.
According to publish Reuters This Wednesday, May 24, “some employees went to platforms like LinkedIn to announce that they had been fired in a round that was expected to deeply affect advertising sales teams, marketing and new partnerships”.
Indeed, all of the latest cuts hit non-engineering jobs the most, and it’s in line with what Zuckerberg said in March about “substantially” restructuring business teams and returning to a “most optimal ratio between engineers and other functions”.
Even in layoffs specifically targeting technology teams, the company reportedly shed mostly non-engineering roles, such as content design and user experience research.
Last layoffs in Meta?
The Meta layoffs were decided after months of slowdown in the company’s growth amid increasingly high inflation and the decline in brand investments in digital advertising after the pandemic boom in terms of commerce electronic.
“We are going to reduce the size of our teams by about 10,000 people and close about 5,000 vacant positions that we have not yet hired,” Zuckerberg said in a March message to all staff.
The layoffs are part of a major restructuring of Meta, a company that seeks to “flatten” its organizational structure with fewer bosses in middle positions.
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