Business in the Facebook group Meta has weakened after the Corona outbreak. Mark Zuckerberg is shrinking again and will soon have 25,000 fewer employees.
Facebook group Meta is looking to lay off nearly 10,000 people in its second major wave of layoffs. Additionally, founder and boss Mark Zuckerberg announced on Tuesday that nearly 5,000 vacancies will no longer be filled.
Layoffs on Meta in a few months
Dismantling will take place in the coming months, he wrote in an email to employees. In November, Meta laid off 11,000 people, roughly 13 percent of its workforce at the time.
Other online giants such as Amazon, Google and Microsoft have also laid off thousands of jobs in recent months – after hiring new employees on a large scale during the coronavirus pandemic, according to Meta. The Facebook group is now the first to apply for the second major round of layoffs. Zuckerberg declared 2023 the “Year of Productivity”.
Managers should submit conversion plans
Zuckerberg acknowledged in an email to employees Tuesday that such confusion creates “uncertainty and stress” at a company. He hopes to implement the changes as soon as possible so that this period of uncertainty can be left behind as soon as possible.
Zuckerberg wrote that executives will present transformation plans in the coming months. Aim:
- Flattening hierarchies
- Publish low priority projects
- Slow the pace of new hires
The layoffs will be announced in April on the tech side and in May on the business side. Employment will also be cut internationally.
The “Financial Times” wrote on Tuesday that the fields of politics, marketing and communications should be affected more than any other by the next layoffs.
Reluctance of advertisers and competition as the reason
Meta senses the reluctance of advertisers who use their money more carefully. Also, the Tiktok app is a strong contender in the fight for ad dollars, and Apple’s measures to protect privacy on the iPhone have made ads on Facebook less efficient. Zuckerberg also invests billions in the development of virtual “meta-universe” worlds. Last year alone, the relevant Reality Labs division reported operating losses of $13.7 billion (currently €12.78 billion).
On Tuesday night Meta announced that Facebook and Instagram would shut down functions related to so-called NFTs, following a previous hoax about digital collectibles. A spokesperson for “The Verge” tech blog announced that the possibility of NFTs being shared via Instagram and Facebook will disappear in the coming weeks.
NFTs (non-fungible tokens) are something like digital certificates of authenticity. They ensure that, among a large number of potentially identical copies, only one file can be considered a signed original, so to speak.
Source: ZDF
I’m Ashley Robinson, a professional writer and journalist. I specialize in news writing and have been working for the past five years with News Unrolled. My main focus is on technology-related topics, though I also write about politics, healthcare, and business from time to time.
