Meta (Facebook, Instagram) plans to lay off thousands of people starting this week, according to the Wall Street Journal (WSJ), while several technology companies have just laid off part of their workforce in response to the economic crisis.
This could be the most substantial social plan in the sector, according to the American newspaper, after the pandemic that has greatly benefited the growth of income, but also of the personnel of these companies.
billions lost
Meta had some 87,000 employees worldwide as of September 30. During the recent release of the latest disappointing quarterly results, boss Mark Zuckerberg mentioned that the group’s headcount should not increase by the end of 2023, or even decrease slightly.
Last Thursday, two Silicon Valley companies, Stripe and Lyft, announced massive layoffs as Amazon froze hiring at their offices. Twitter, recently acquired by Elon Musk, has just laid off half of its 7,500 employees.
In one year, Meta lost nearly $600 billion in market capitalization. The company has been worrying markets since the beginning of the year, when it first announced that it had lost users on its original social network, Facebook.
The expensive investments to build the metaverse, presented as the future of the Internet, do not reassure investors who doubt the ability of the group to obtain significant income from this fledgling parallel universe.
Source: BFM TV
