A 2nd wave of layoffs at Meta; 10,000 jobs are cut
Last edited Tue Mar 14, 2023, 04:07 PM - Edit history (2)
Source: AP
Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard. The company announced 11,000 job cuts in November, about 13% of its workforce at the time. In addition to the layoffs, Meta said Tuesday that it would not fill 5,000 open positions.
“This will be tough and there’s no way around that,” said CEO Mark Zuckerberg. Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go. Hiring in the U.S. is still strong, but layoffs have hit hard in some sectors.
Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue. On the same day, the company said that it would buy back as much as $40 billion of its own stock.
The Menlo Park, company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May. Zuckerberg has invested tens of billions of dollars building out its metaverse, its virutal reality concept, and renamed the company Meta, signaling a new focus for Facebook.
Read more: https://apnews.com/article/meta-facebook-job-cuts-f193ca0e67078c04a8433f6c74a83187
Article updated.
Previous article/headline
Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company announced 11,000 job cuts in November, about 13% of its workforce at the time.
Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go. Hiring in the U.S. is still strong, but layoffs have hit hard in some sectors. Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue.
The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.
"This will be tough and there's no way around that," said CEO Mark Zuckerberg. "It will mean saying goodbye to talented and passionate colleagues who have been part of our success."
Original article -
The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May. "This will be tough and there's no way around that," said CEO Mark Zuckerberg. "It will mean saying goodbye to talented and passionate colleagues who have been part of our success."
The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. In February it posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.
The company announced 11,000 job cuts in November.
= new reply since forum marked as read
plus whoever had been brought in during the pandemic to beef up platform use (e.g., you might have had more "Facebook live" streams, etc.
Below includes a few later acquisitions -
They were late in the VR game (Google and Samsung did some early cornering of the market) and then the pandemic hit and they really weren't ready to fly with anything "escapist" during that turbulent period when the need was for quick dissemination of information.
the idiotic "Chatbots" for "customer service" have already made a dent and have been around for some time now.
Some of use even remember this guy -
And I expect you might be one like myself who could get completely bollixed up in one of those phone menu systems trying to find a "live person" to talk to if none of the menu options fits your problem.
And in a world where people had no legs?
Who knew?
