Meta apparently plans to cut "many thousands" of jobs
According to a report in the Wall Street Journal, the U.S. company is planning large-scale layoffs. This Wednesday there could be an official announcement on this.
Facebook parent Meta plans to cut thousands of jobs, according to a report. The US newspaper Wall Street Journal reported on Sunday, citing insiders, that "many thousands" of employees could be affected by the job cuts. An official announcement by the group may be made as early as Wednesday.
Meta, which in addition to the online network Facebook also includes the picture service Instagram and the messenger service Whatsapp, has around 87,000 employees worldwide. The group had reported a slump in profit and a decline in revenue in the third quarter. Revenue fell from $29 billion to $27.7 billion, and profit halved to $4.4 billion.
Group CEO Mark Zuckerberg had nevertheless spread optimism at the end of October when presenting the quarterly figures. Meta could "master the current environment and emerge as an even stronger company," he explained. Like other large Internet companies whose revenue is based primarily on advertising, Meta is currently suffering from advertisers cutting their marketing budgets in the gloomy economic climate. (sda)
