Some meta employees are already confirming the job cuts via LinkedIn. Some roles reportedly include marketing, site security, enterprise engineering, program management, content strategy, and corporate communications. Teams related to privacy and integrity were also let go.
Prior to the report, Meta already hinted this week that its Ireland headquarters could lose about 490 employees, which translates to 20% of the workforce. However, the move went beyond the regular employees. According to Reuters, two huge executives in India — director of marketing Avinash Pant and director and head of media partnerships Saket Jha Saurabh — are included in the sacking.
The layoffs are part of Meta’s strategy to restructure the company in order to save money in the midst of these challenging times. The Facebook and Instagram parent, however, is not alone in this. Other huge techs are also slashing their workforce population as the challenging global economic climate continues. In the past months, we also saw huge companies sweeping jobs, including Amazon, Microsoft, Google, IBM, SAP, and Salesforce.
The news follows Shuttersctok’s confirmation that it would be buying Giphy from Meta, which purchased it for $400 in 2020. The deal, nonetheless, is a blow for Meta as it will be passing it to Shutterstock for only $53 million.