Facebook group – Meta cuts thousands of jobs again – economy

The Facebook group Meta wants to cut around 10,000 jobs in a second major wave of job cuts. In addition, around 5,000 vacancies should no longer be filled, announced founder and boss Mark Zuckerberg on Tuesday. The dismantling will take place over the coming months, he wrote in an e-mail to the employees. In November, Meta had already cut 11,000 jobs, which was around 13 percent of the workforce at the time. According to Meta, other online giants such as Amazon, Google and Microsoft have also cut thousands of jobs in recent months – after hiring new employees on a large scale during the boom for their business in the corona pandemic. At the end of 2019, the group had 45,000 employees, at the time of the first job cuts in November 2022 there were over 87,000.

Meta senses the reluctance of advertisers. Also, the Tiktok app is a strong rival in the fight for advertising dollars – and Apple’s measures to protect privacy on the iPhone made ads on Facebook less efficient. At the same time, Zuckerberg is investing many billions in the development of virtual “metaverse” worlds.

source site