Earlier this March, Meta founder and CEO Mark Zuckerberg announced that he would cut 10,000 jobs in two rounds of layoffs, one in late April and the other in late May. It seems like it is happening. Meta is the first technology company to have initiated layoffs due to restructured cost-cutting measures and the company’s focus on artificial intelligence.
The third round of layoffs is said to affect the business and technology departments, as the company has expected to reduce the team size and open an additional 5,000 job roles that are yet to be filled under “The Year of Efficiency.”
This latest round will impact 490 international employees at Meta’s Dublin headquarters. The company eliminated the non-engineering roles of content designers and experienced user researchers in order to achieve a more balanced ratio of all the other roles.
Already, 4,000 roles were laid off last month, leaving the remaining 6,000 positions on the cutting board. Several employees from the respective departments of marketing, strategy, corporate communications, program management, and site security took to the LinkedIn platform to share their part of the story.
Among those affected employees are our top executives in India, who were also laid off. Avinash Pant, the director of marketing for India, along with the director and head of media partnerships, Saket Jha Saurabh, were fired. Following Meta’s layoff, revenue growth declined, as did the pullback of digital advertisements and the fall in the value of money.
Last November, Meta had already shown the door to over 11,000 roles that were eliminated, during which a total of 21,000 people lost their jobs from all the departments combined, leaving the company with 86,000 employees as of 2022 reports.
At present, Meta is no longer opening job roles under remote positions,” as the managers have declined to post the listing with a remote work option. The company has been spending billions of dollars on the Metaverse lab units, along with a project to bring the infrastructure back into shape so it can move forward with artificial intelligence.