Meta Platforms, the parent company of Facebook, has recently concluded the final phase of job cuts as part of its strategy to eliminate 10,000 positions. Key personnel affected by the layoffs include Avinash Pant, Director of Marketing for India, and Saket Jha Saurabh, Director and Head of Media Partnerships. A range of departments, such as marketing, site security, enterprise engineering, program management, content strategy, and corporate communications, experienced workforce reductions. Additionally, staff reductions were implemented in privacy and integrity units.
Earlier this year, Meta embarked on an unprecedented second round of mass layoffs following a previous reduction of over 11,000 employees. Despite these measures, Meta's share value has more than doubled this year, owing to cost-cutting efforts and the company's focus on artificial intelligence. The downsizing decision was driven by declining revenue growth attributed to inflation and reduced digital advertising during the pandemic-induced e-commerce slowdown. Meta's CEO, Mark Zuckerberg, had previously outlined that the majority of the second round of layoffs would occur in three phases over several months, with completion expected by May.
Further smaller rounds of cuts may occur in the future. The recent layoffs primarily impacted non-engineering roles, underscoring the significance of engineering positions within Meta. Zuckerberg expressed intentions to undertake substantial restructuring of the business teams, aiming for a more balanced ratio of engineers to other roles. The latest round of layoffs is projected to affect around 490 employees at Meta's international headquarters in Dublin, accounting for nearly 20% of the Irish workforce.
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