Arab Press

بالشعب و للشعب
Monday, Jan 13, 2025

Meta to shed another 10,000 employees in a fresh round of job cuts

Meta to shed another 10,000 employees in a fresh round of job cuts

Facebook's parent company Meta is slashing a further 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs, it announced on Tuesday.
The company axed 11,000 jobs in November, about 13 per cent of its workforce at the time.

Meta and other tech companies have been hiring aggressively for at least two years and in recent months have begun to let some of those workers go.

Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue.

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.

"This will be tough and there’s no way around that," said CEO Mark Zuckerberg. "It will mean saying goodbye to talented and passionate colleagues who have been part of our success".

The company, based in Menlo Park, California, has invested billions of dollars to realign its focus on the metaverse.

In February, it said a downturn in online advertising and competition from rivals such as TikTok weighed on results.

"As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs -- and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long-term vision," said Zuckerberg.

The biggest tech companies in the US are cutting costs elsewhere, too.

This month, Amazon paused construction on its second headquarters in Virginia following the biggest round of layoffs in the company’s history and its shifting plans around remote work.

In early trading, Meta shares rose 6 per cent.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Rising Casualties and Intense Diplomacy: The Conflict in Gaza Continues
Joseph Aoun Elected as Lebanon's New President: Ending a Prolonged Power Vacuum
Joseph Aoun Elected Lebanon’s 14th President Amid Political Stalemate
Trump Signals Shake-Up at the Pentagon Amid Transition Concerns
U.S. Supreme Court Denies Trump's Last-Minute Bid to Block Sentencing in New York
Escalating Conflict in Gaza: Casualties Surge as Diplomatic Efforts Continue
Escalation in West Bank: Israeli Boy Killed in Palestinian Gun Attack
U.S. Supreme Court Denies Trump's Appeal to Delay Sentencing in New York Hush Money Case
Lancet Study Reveals Underestimation of Gaza War Death Toll by 40 Percent
Global Acclaim Follows Election of Lebanon's New President Joseph Aoun
Saudi Leaders Extend Congratulations to Joseph Aoun, New President of Lebanon
UN Accuses Israel of Restricting Humanitarian Aid in Northern Gaza
US Pledges $500 Million Military Aid Package to Ukraine
Ethiopia Endures a Series of Earthquakes in Brief Timespan
Joseph Aoun: Lebanon's Fourteenth President Amid a Legacy of Challenges
President Biden Reports Meaningful Progress on Gaza Agreement
Lancet Study Reveals Higher Gaza Death Toll than Official Reports
Global and Arab Welcome for Joseph Aoun's Election as Lebanon's President
Biden Cites 'Real Progress' in Gaza Deal Talks Amid Intense Negotiation Efforts
Escalation in Gaza: Casualties Rise Amidst Ongoing Negotiations
Escalating Conflict in Gaza: Casualties Surge as Negotiations Continue
Quaker Group Cancels NYT Ad Over Dispute on Gaza Terminology
IDF Imposes Media Restraints Amid Legal Concerns For Soldiers
Trump's Counter-terrorism Nominee Urges UK to Repatriate British IS Members from Syria
Uncovering Iraq's Mass Graves: A Haunting Search for the Missing
Kurdish Commander Appeals to Trump for Continued U.S. Military Presence in Syria
Global Powers Call for Stabilization Efforts in Syria Amid Transition
Syria at a Crossroads: The Unceremonious Collapse of the Assad Regime
Trump's Syria Conundrum: Staying Out May Be Easier Said Than Done
Syrian Rebel Leader Pledges to Dismantle Assad's Notorious Prisons
Escalation in Gaza: Increased Casualties Amid Ongoing Conflict
Dissecting Luxury: A Study of American Society in the Digital Age
Escalating Violence in Gaza as Ceasefire Negotiations Intensify
US Eases Missile Technology Export Regulations for Key Allies
Escalation in Gaza Conflict: Fatal Strikes and Escalation in the West Bank
Gaza Cola: A Palestinian Initiative Aimed at Rebuilding Amidst Conflict
Poland Shuts Consulate in Saint Petersburg Amid Rising Diplomatic Tensions
Miracle at Sea: Baby Born on Migrant Vessel Rescued by Spanish Coast Guard
Saudi Crown Prince Engages in Diplomatic Dialogue with Ukraine’s Zelensky
Israeli Military Recovers Body of Hostage in Gaza, Evidence Suggests Son Also Killed
Explosion at Ammunition Depot Rocks Syria's Idlib Region
Saudi Arabia Battling Unprecedented Floods Amid Torrential Rains
Cease-fire Negotiations in Qatar: No Timeline for Resolution
UN Seeks Additional $371.4 Million for Lebanon Amidst Ongoing Crisis
Saudi Arabia Continues Aid Bridge to Syria Amid Ongoing Crisis
Israel Declares West Bank a 'Primary Arena' of Threats Amid Escalating Conflict
U.S. Sanctions Shake Sudan's Political Landscape Amid Ongoing Conflict
Israeli Military Recovers Body of Hostage from Gaza
Violence Escalates as Al-Qaeda Militants Clash with Malian Army
Hamas Rebuilds Military Capabilities as Israeli Soldiers Face Legal Challenges Abroad
×