Meta Covertly Trims Down Workforce To Reduce Costs By 10% – Tech.co

As big tech continues to take a battering, Meta is being forced to cut expenses by 10% after its year-on-year revenue declined for the first time on record.

To make way for these cuts, the Silicone Valley company is planning to reorganize departments and put some workers on a “30-day list” – a measure that will squeeze them out of the company if they don’t find a new role within a month.

Much like its fellow tech company Google, which is currently requiring select employees to reapply for different positions to remain at the company, Meta is avoiding using the term “layoffs”. However, as the company seeks to “prioritize more ruthlessly” by investing in artificial intelligence (AI), it’s clear that workers are being used as collateral.

Meta Plans on Cutting Costs by 10%

According to a recent report by the Wall Street Journal, Facebook’s and Instagram’s parent company is looking to cut down total expenses by 10% in the coming months, as the firm deals with a decline in ad revenue and…

Read Full Story: https://tech.co/news/meta-trims-down-workforce

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source: https://news.oneseocompany.com/2022/09/22/meta-covertly-trims-down-workforce-to-reduce-costs-by-10-techco_2022092231042.html

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