New York. Facebook’s owner Meta Platforms Inc has cut jobs across its business and operations units. The company carried out its final batch of three-part layoffs, part of a plan to eliminate 10,000 roles announced in March. Dozens of employees who worked in teams such as marketing, site security, enterprise engineering, program management, content strategy and corporate communications announced on LinkedIn that they had been laid off.
Advertisement: “GOOD INVESTMENT OPPORTUNITY IN JAIPUR” JDA APPROVED PLOTS ONLY IN 4 LAKH VATIKA,TONK ROAD, CALL 8279269659
The social media giant has also laid off employees from its units focused on privacy and integrity, according to a LinkedIn post.
Also read this news: These 6 months in one country and 6 months in another country, the rules and regulations of the world change
announced in march
Meta announced a second round of mass layoffs earlier this year after laying off more than 11,000 employees. It became the first big tech company to do so. The reduction has brought down the company’s headcount. This is being done after a recruitment spree that has doubled its workforce since 2020.
Also read this news: Flight-hotel spent only Rs 135 in a 7-day foreign trip!
rise in company shares
Shares of the company ended marginally higher in a broadly weak market. Their value has more than doubled this year and is one of the top performers in the S&P 500 index thanks to Meta’s drive to cut costs and its focus on artificial intelligence.
In March, Meta CEO Mark Zuckerberg said the bulk of the company’s second round of layoffs would take place in three “tranches” over several months, roughly ending in May. He said that after this some short rounds may continue.
Also read this news: ‘Granddaughter born from grandmother’s womb’ 56-year-old woman became the mother of her own son’s child, know what is the whole matter
Most cuts in non-engineering roles
Overall the reductions affected non-engineering roles the most, reinforcing the predominance of coders in the meta. Zuckerberg has said that the focus is on “substantially” reorganizing business teams and returning to a “more optimal ratio of engineers to other roles”.
The company eliminated more non-engineering roles such as product design and user experience research, according to executives speaking at a company town hall after the last round of layoffs in April, amid cuts specifically targeted to technology teams. Is.
The social media company said on Wednesday that the latest cuts are likely to affect around 490 employees at its international headquarters in Dublin, or around 20% of its Irish workforce.
Also read this news: Female teacher fell in love with student, got married after getting gender changed
Two top executives in India also in the list
Two top India executives — director of marketing Avinash Pant and director and head of media partnerships Saket Jha Saurabh — have also been asked to leave, according to two people with knowledge of the matter.
Both Meta executives did not immediately respond to requests for comment. The layoffs come after months of losses in revenue growth at Meta amid high inflation and a digital advertising pullback from the pandemic, the e-commerce boom.
Also read this news: ‘My boyfriend gave birth to a child, he did not know she was pregnant’
Company’s emphasis on AI
The company is also pouring billions of dollars into its metaverse-oriented Reality Labs unit, which is slated to hit $13.7 billion through 2022, and projects to shape its infrastructure to support the company’s artificial intelligence work.
Download app: To read the latest news of your city, download the Sanjeevani Today app
Leave a Reply