Fears for more Irish tech jobs are growing as Meta reported planning job cuts from next week

Fears for the jobs of Irish tech workers are mounting after it was revealed Facebook parent company Meta Platforms Inc plans to begin layoffs that will affect thousands of workers from this week.

The Wall Street Journal reported that the cuts could happen as early as Wednesday.

According to the report, the company has already informed employees that it will cancel non-essential travel starting this week.

Meta employs around 3,000 people directly in Dublin.

In September, Chief Executive Mark Zuckerberg outlined plans to restructure teams and cut headcount for the first time after growth at the parent company of Facebook and Instagram slowed sharply.

Mr. Zuckerberg said at the time that Meta will likely be smaller in 2023 than it is this year.

The layoffs come as Meta struggles with mounting losses and invests heavily in developing its Metaverse business. Its shares are down 73 percent this year.

The cuts will add to already mounting job losses at big tech companies.

Twitter cut nearly 3,700 jobs last week after Elon Musk completed his $44 billion takeover of the social media platform.

A spokesman for Meta declined to comment to the WSJ.

https://www.independent.ie/business/world/fears-grow-for-more-irish-tech-jobs-as-meta-reported-to-be-planning-job-cuts-from-next-week-42123486.html Fears for more Irish tech jobs are growing as Meta reported planning job cuts from next week

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button