TIMES.KY

Cayman Islands, Caribbeanand International News
Friday, Oct 11, 2024

Meta To Start Another Round Of Layoffs Next Week: Report

Meta To Start Another Round Of Layoffs Next Week: Report

Meta has been marketing 2023 as a "year of efficiency" in an effort to improve its financial performance and achieve long-term goals.
Facebook-parent Meta Platforms has said that it will be conducting another round of layoffs just two months after it let go 10,000 employees, as per a report in Vox News. This was communicated to the staff by the company's executives in a Q&A with employees on Thursday.

Meta's President of Global Affairs Nick Clegg said during the company meeting, "The third wave is going to happen next week. That affects everybody in the biz teams, including in my orgs. It's just a time of great anxiety and uncertainty. ... I wish I could have some easy way of providing solace or comfort. It is uncertain. And actually it's really increased my admiration for the way that everyone - notwithstanding that uncertainty - you're just displaying such resilience and professionalism."

The executive said that the layoffs "will follow a similar process" to the job cuts that took place in April. The Head of People Meta will send a note to staff members the afternoon before layoffs take place with information about when the process will start and which teams will be impacted. Further, Employees impacted by the job cuts will then be notified and then information will be sent to non-impacted employees. According to Mr Clegg, the company will request that any employee "whose job allows" should work from home, as per Vox News.

Melinda Davenport, the Director of Internal Communications at Meta, addressed the staff members before the executives took questions. "Real talk: We are still going through our layoffs and restructuring that you've heard all of our senior leaders mention. And while I know that it's a tough and tricky situation, we're going to try to answer all the questions that you may have." Ms Davenport added that the company "may not have all the answers that you're searching for" but the company is trying their best.

As per the outlet, several employees questioned whether there will be more layoffs in the future. To this, the Chief Technology Officer Andrew "Boz" Bosworth stated that they "don't have anything planned". He said, "The plan is to continue as we have done for a long time as a company and go forth and build and grow."

"I can't tell you if the revenue tanks and the economy tanks or costs go up for some reason or some kind of thing happens. You know, I can't know the future," he concluded.

It is to be noted that the company has been marketing 2023 as a "year of efficiency" in an effort to improve its financial performance and achieve long-term goals. To achieve the same, it is flattening the organisation, cancelling lower priority projects and slowing hiring. As per Reuters,
Meta has struggled with a "post-pandemic slump" in advertising spending from companies facing high inflation and rising interest rates.
Newsletter

Related Articles

TIMES.KY
0:00
0:00
Close
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
×