Gadgets Africa
  • News
    Apple bars developers from cloning apps

    Apple bars developers from cloning apps

    Subsidy: Bolts, Uber, others begin nationwide strike

    Subsidy: Bolts, Uber, others begin nationwide strike

    Reddit to lay off 5% workforce

    Reddit to lay off 5% workforce

    Nigerian Abel Aboh joins UK AI centre board

    Nigerian Abel Aboh joins UK AI centre board

    New iPhone feature warns against unwanted nudes

    New iPhone feature warns against unwanted nudes

    Apple launches Vision Pro virtual reality headset

    Apple launches Vision Pro virtual reality headset

    El Salvador based firm to build bitcoin mining farm

    El Salvador based firm to build Bitcoin mining farm

    Nigerian healthtech Helium Health raises $30m for expansion

    Nigerian healthtech Helium Health raises $30m for expansion

    Chipper Cash fires COO, other staff in third layoff

    Chipper Cash fires COO, other staff in third layoff

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Meta plans fresh job cuts, delays team budgets – Report

by Alex Omenye
February 11, 2023
in News
Reading Time: 1 min read
Meta launches AI tech that can identify items in images

Meta

Share on FacebookShare on TwitterShare on Telegram

Meta; the parent company of Facebook has delayed finalizing the budgets of multiple teams in the firm.

According to Financial Times, this is because the tech giant is preparing for another fresh round of job cuts.

Recently, there had been a lack of transparency as it regards budgets and future headcount, the Financial Times reported, citing two Meta sources.

Earlier this month, Meta disclosed that the company expects its 2023 expenses to be between $89 billion and $95 billion, with the CEO, Mark Zuckerberg calling the period a “Year of Efficiency.”

Last year, the tech giant laid off more than 11,000 jobs which amount to 13% of its workforce.

In early November, Meta let off roughly 11,000 people, decreasing its employment by 13% and instituting a hiring freeze that will last until the first quarter of 2023. The majority of the layoffs will be from Facebook, Instagram, and WhatsApp, with fewer from the metaverse section.

The business and recruiting teams are the most affected. At the end of September 2022, Meta had 87,314 employees. This was a 28% rise over the previous year.

Meta had been on an apparently never-ending hiring drive before the layoffs. It went out of its way to acquire outstanding personnel and provide unusual job benefits, such as 30 days of paid leave every five years.

The corporation is now lowering employee benefit expenditures and selling some of its real estate holdings. Before the layoffs, CEO Mark Zuckerberg had taken steps to reduce costs, but he finally decided to let staff go.

Amazon Inc, Microsoft Corp, and Alphabet; the parent company of Google are some of the other tech giants that have laid off due to the economic downturn.

 

 

Tags: FacebookMark ZuckerbergMeta
ADVERTISEMENT

Related Posts

Apple bars developers from cloning apps
News

Apple bars developers from cloning apps

by Alex Omenye
June 7, 2023
Subsidy: Bolts, Uber, others begin nationwide strike
featured

Subsidy: Bolts, Uber, others begin nationwide strike

by Alex Omenye
June 7, 2023
Reddit to lay off 5% workforce
News

Reddit to lay off 5% workforce

by Alex Omenye
June 7, 2023
Nigerian Abel Aboh joins UK AI centre board
featured

Nigerian Abel Aboh joins UK AI centre board

by Alex Omenye
June 6, 2023
Next Post
ChatGPT, others'll worsen internet misinformation - US billionaire

ChatGPT, others'll worsen internet misinformation - US billionaire

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Steve Jobs' ebook to drop April 11

Steve Jobs’ ebook to drop April 11

April 4, 2023
Japanese game giant Sega acquires Angry Birds

Japanese game giant Sega acquires Angry Birds

April 17, 2023

Trending.

Buhari enacts startup bill

Nigerian tech startups, others raise $3.1bn – Report

July 11, 2022
Firm, others partner to eradicate substandard lubricants

Firm, others partner to eradicate substandard lubricants

May 5, 2022
Spotify to lay off staff this week

Spotify to lay off staff this week

January 23, 2023
Canada warns of increase in cyber attacks

Canada warns of increase in cyber attacks

June 3, 2023
US Republicans raise concerns over TikTok content moderation

TikTok shuts Indian office, lays off staff

February 10, 2023
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version