Meta Layoffs: 4,000 Affected Globally – Capital Street FX

Meta initiates global layoffs, with technical staff bearing the brunt.

• Meta, formerly known as Facebook, has begun another round of layoffs globally, targeting employees with technical backgrounds. Many affected employees have shared their experiences on LinkedIn, stating that they were asked to leave. Teresa Jimenez, a business Programme manager at Facebook, posted that she was among those laid off and requested information on career opportunities.
• The layoffs affected employees in various verticals, including user experience, software engineering, and graphics programming. Reports suggest that the layoffs will affect at least 4,000 highly-skilled employees worldwide, with Instagram’s London office already affected. In March, Meta CEO Mark Zuckerberg announced the company’s plan to cut 10,000 jobs in the coming months. The company is also expected to announce new team structures and management hierarchies. These layoffs come four months after Meta laid off 11,000 employees, or 13% of its workforce, in November 2022.
  
  The job cuts at Meta have caused a wave of uncertainty among employees and raised concerns about the company’s future. While Meta has not provided any details about the layoffs, the affected employees are struggling to find new job opportunities in a tight job market. Some have expressed their disappointment and frustration over the situation, particularly those who have been with the company for many years.
• In response to the layoffs, Meta has emphasized its focus on building a metaverse, which it believes will be the next big thing in social media. The company’s leadership is hoping to redirect resources towards this ambitious project, which they believe will require a different set of skills and talents than those currently employed by the company.
• Despite the company’s vision, many industry experts are skeptical about the feasibility of building a metaverse and its potential impact on society. They argue that Meta’s focus on developing this technology could distract from more pressing issues, such as privacy concerns and the spread of misinformation on social media.