Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, is cutting approximately 5% of its workforce, impacting around 4,000 employees worldwide. The layoffs are part of a strategic restructuring aimed at boosting productivity and focusing on key growth areas like artificial intelligence.
Tech and social media giant Meta is implementing significant workforce reductions, targeting approximately 5% of its global employee base, which translates to around 4,000 jobs. This news comes as a blow to thousands of employees, who are expected to receive notification via email on Monday morning. Despite these layoffs, Meta maintains a substantial presence in the job market, with around 1,000 open positions in California.
According to Reuters, Meta executives have stated their intention to focus on 'performance terminations,' aiming to optimize the company's productivity. \Meta's layoffs extend beyond the United States, impacting employees in over a dozen countries across Europe, Asia, and Africa, with termination dates ranging from February 11th to 18th. Notably, employees in Germany, France, Italy, and the Netherlands are exempt from these cuts due to specific local regulations. \Meta claims that these reductions are part of a strategic realignment, emphasizing the company's commitment to investing in key areas like machine learning engineering and other crucial business roles. They aim to expedite the hiring process for these positions to ensure continued growth and innovation. This move follows a trend observed in Silicon Valley, with companies like Workday and Salesforce also announcing layoffs this month. Both companies cited a desire to prioritize investments in Artificial Intelligence as a driving factor behind their decisions. University of New Haven business professor James Mohs points out that Meta has been engaged in a series of layoffs since 2023, indicating a broader shift within the tech industry
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