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Meta has announced plans to cut its workforce by 13% worldwide (Image: PA)
11,000 employees out of an 87,000-person global workforce are being laid off as part of a business-wide restructuring aimed at reducing costs.
Meta founder and CEO Mark Zuckerberg called the cuts “some of the most difficult changes we’ve made in Meta’s history”, citing the “macro economic downturn, the rise in competition, and the loss of advertising brands” caused the company’s revenues to decline. leading to a significant reduction in staffing.
In a message to employees, Mr Zuckerberg said: “I made a mistake, and I own up to it. We’re taking a lot of steps to become a leaner and more efficient company by cutting direct expenses and extend our Q1 payout.
“I want to take responsibility for these decisions and how we got here. I know this is difficult for everyone, and I feel very sorry for those who have been affected.
Meta’s biggest platforms – Facebook and Instagram – have come under increasing pressure from places like TikTok, as the company has spent billions developing the metaverse – a long-term project of Mr Zuckerberg is just a theory and has never been strong enough for anyone. great way.
Exempt employees receive 16 weeks of base pay and an additional two weeks for each year of service.
Mr Zuckerberg said support would be “equal” worldwide, but the company would “follow up soon with specific measures that take into account local labor laws”.
He also confirmed that access to internal staff systems would be removed for people leaving “excessive access to sensitive information”, but said email addresses would be active “throughout the day”. so that “everyone can say goodbye”.
The Meta founder said: “It’s a sad time, and there’s no way around it. To those who are leaving, I want to thank you again for everything you’ve brought to this place.
“We would not be where we are today without your hard work, and I am grateful for your contributions.
“To those who live, I know this is a difficult time for you. Not only are we saying goodbye to people who worked closely with us, but many of you are also sad about the days in front.
“I want you to know that we are making these decisions so that our future is strong.”
Meta’s European headquarters are in Dublin, with 3,000 employees in Ireland. The international announcement applies to full-time Meta employees in Ireland. It does not apply to contract workers employed by third parties.
It is understood that redundancies in Ireland will be carried out within the country’s legal framework, with affected employees having access to a consultation period.
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