Arab Press

بالشعب و للشعب
Saturday, May 31, 2025

Facebook and Instagram owner Meta to lay off another 10,000 staff

Facebook and Instagram owner Meta to lay off another 10,000 staff

Meta is the latest large firm to wield the axe as it tries to ride out a worldwide economic downturn. The latest job cuts announcement comes just four months after the firm cut its global headcount by more than 11,000 employees.
Meta, the owner of Facebook and Instagram, is axing another 10,000 jobs to cut costs.

The company said on 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.

"We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired," said CEO Mark Zuckerberg.

"This will be tough and there's no way around that.

"It will mean saying goodbye to talented and passionate colleagues who have been part of our success."

It comes just four months after Meta - which is investing billions of dollars to build the futuristic metaverse - cut its global headcount by more than 11,000 employees.

It is one of several big companies to wield the axe to rein in costs in an attempt to ride out a worldwide economic downturn.

Rapid interest rate hikes and weak consumer demand have forced firms such as Amazon, Twitter and Microsoft to trim their workforces.

The latest job cuts at Meta are part of a wider shake-up at the tech firm that will see the company cancel lower priority projects, reduce its hiring rates and flatten layers of middle management.

Meta shares jumped 6% on the news.

Mr Zuckerberg has pledged to turn 2023 into the "year of efficiency" with promised cost cuts of $5bn in expenses to between $89bn and $95bn.

"I think we should prepare ourselves for the possibility that this new economic reality will continue for many years," he said in a message to staff on Tuesday.

The tech industry has laid off more than 280,000 workers since the start of 2022, with about 40% of them coming this year, according to tracking site layoffs.fyi.
Comments

Oh ya 2 year ago
Ya people are losing interest in this crap. Hard to believe anyone is still using Facebook

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Netanyahu Accuses Starmer of Siding with Hamas
Calls Grow to Resume Syrian Asylum Claims in UK
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Denmark Increases Retirement Age to 70, Setting a European Precedent
Iranian Director Jafar Panahi Wins Palme d'Or at Cannes
Israeli Airstrike Kills Nine Children of Gaza Doctor
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
Mount Lewotobi Laki-Laki Erupts Again, Spewing Ash Cloud over Flores Island
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
Senate Democrats Move to Censure Trump Over Qatar Jet Gift
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
×