Meta, the parent company of Facebook, Instagram and WhatsApp, has confirmed plans to cut more than 11,000 jobs worldwide as part of a major restructuring at the tech giant.
The cuts will reduce the size of the company’s workforce by around 13% and could mean up to 650 job cuts in the UK and around 400 in Ireland.
Meta Founder and CEO Mark Zuckerberg said the cuts were “some of the toughest changes we’ve made in Meta’s history.”
He said the “macroeconomic slowdown, increased competition and loss of advertising signal” had caused a decline in Meta’s revenue which had led to significant staff reductions.
In a message to employees as he confirmed that approximately 11,000 of Meta’s 87,000 global employees would be cut, he said, “I was wrong and I take responsibility for that.”
According to the company’s latest UK filing, Meta employs just over 5,000 people in the UK.
It has not been confirmed how many UK employees will be affected by the cuts, but if it matches the overall reduction of 13% it could mean around 650 job losses in the UK.
Meta’s European headquarters are in Dublin, with 3,000 employees based in Ireland.
The global announcement will impact full-time Meta employees in Ireland. It will not affect contract workers employed by third parties in the country, which has around 6,000 people.
It is understood that the redundancies in Meta’s operations in Ireland will be in line with the global workforce reduction of 13%, which means that almost 400 employees could lose their jobs.
It is also understood that any redundancy in Ireland will be carried out within the country’s statutory framework, with affected employees entering a consultation period.
“We are also taking a number of additional steps to become a leaner, more efficient business by reducing discretionary spending and extending our hiring freeze through the first quarter,” Zuckerberg said in a statement.
“I want to take responsibility for those decisions and how we got here. I know this is difficult for everyone and I am especially sorry for those affected.
Meta’s biggest platforms – Facebook and Instagram – have come under increased pressure from sites such as TikTok, while the company has also spent billions developing the metaverse – a long-term project of Mr Zuckerberg , but a platform that remains a concept and not yet active in any substantial way.
He said he would pay departing staff 16 weeks of base salary plus an additional two weeks for each year of service, saying support would be “similar” around the world, but the company would “follow up soon with separate processes taking local employment into account”. laws”.
Mr Zuckerberg also confirmed that access to internal staff systems would be removed for people leaving “given the amount of access to sensitive information”, but said email addresses would be active “throughout of the day” so that “everyone can say goodbye”.
“It’s a sad moment, and there’s no getting around it. To those leaving, I want to thank you once again for everything you put into this place,” Zuckerberg said. .
“We wouldn’t be where we are today without your hard work, and I appreciate your contributions.
“To those left behind, I know this is a difficult time for you too. Not only are we saying goodbye to the people we have worked closely with, but many of you also feel uncertain about the future.
“I want you to know that we are making these decisions to ensure our future is strong.”
The announcement comes just days after Twitter cut its global workforce by 50% following the platform’s takeover by Elon Musk.