According to wall street journalMeta is reportedly on track to lay off thousands of people in the coming weeks, making it the biggest “slimming down” plan in the tech industry — Meta had some 87,000 employees worldwide as of September 30, 2022. According to the daily , Mark Zuckerberg would have announced his intentions during the publication of the last and disappointing quarterly results of the group, specifying that the personnel “expected not to increase by the end of 2023”even “decrease slightly”. This redundancy plan should be announced on Wednesday November 9 and concern several thousand employees.
“We are facing an unstable macroeconomic environment, increased competition, advertising targeting issues and rising costs for our long-term investments. But I have to say that our products seem to be doing better than some reviews suggest”, explained the boss of Meta at the end of October. Sitting on advertising, the company’s income suffers in particular from monetary inflation.
After losing users for the first time in its history in the last quarter of 2021, then announcing a drop in quarterly turnover in the second quarter of 2022, the American group suffered a new setback between July and September, with profits down 52% to $4.4 billion, and revenue down 4% to $27.7 billion. Mark Zuckerberg is, however, betting on his metaverse to put the lights back to green in a few years, even if it means emptying the coffers for the development of this virtual space, which for the moment only seems to interest marketers…