Meta to cut 10,000 jobs in second round of layoffs
14 March 2023 | 6:10 pm
Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn.
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Meta, which owns Facebook, Instagram and WhatsApp, among others, is facing several economic constraints. Mark Zuckerberg said he will "get more done with fewer resources."
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Shopify is to cut almost 1,000 jobs after overestimating the need for workers during the COVID-19 pandemic.
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The US automaker has announced it is shedding 3,000 jobs in North America and India to cut costs and simplify processes. The company aims to accelerate its transition to electric vehicles.
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Like the US and other European countries, France is experiencing its own "Great Resignation". Between the end of 2021 and the beginning of 2022, resignations hit an all-time high, at almost 520,000 per quarter. The previous record dated from 2008, just before the financial crisis.
FRANCE 24’s Marc Perelman interviewed London Mayor Sadiq Khan in Buenos Aires, where he is chairing the C40 World Mayors Summit. The conference is focused on finding concrete, local solutions for the fight against climate change. The London mayor said he aims to keep alive the 2015 Paris agreement target of limiting global temperature rise to 1.5° Celsius.
Digital Marketing expert, Bukola Akingbade speaks on why the Nigerian government, through the Advertising Regulatory Council of Nigeria (ARCON) sued Meta Platforms Incorporated (owners of Facebook, Instagram, and WhatsApp platforms) and its agent AT3 Resources Limited at the Federal High Court, Abuja Judicial Division demanding over N30billion for alleged breach of advertisement regulations.
Employees are bracing for bad news after receiving a memo about job cuts, with every second worker reportedly at risk of being laid off. Elon Musk has already fired top executives since buying the social media giant.
Half of the social media giant's staff were reportedly laid off, some advertisers pulled their ads and US President Joe Biden said the platform "spews lies all across the world."
Cornet and four other Twitter employees had filed a lawsuit in California federal court on Friday accusing the social media company of violating federal and California laws requiring employers to give 60 days' notice before engaging in mass layoffs.
Meta Platforms Inc META.O said on Wednesday it will let go of 13% of its workforce, or more than 11,000 employees, in one of the biggest layoffs this year as the Facebook parent battles soaring costs and a weak advertising market.
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