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Meta Cuts Staff to Reduce Costs

  • With the reduction in personnel and cost, Meta Platforms hopes to reduce costs by at least 10% in the months ahead
  • Meta quietly began to let go of a significant number of employees by identifying departments
  • The company lowered its operational expense forecast in the third quarter of 2021

Meta Platforms expects to reduce costs by at least 10% in the months ahead, including through personnel cutbacks as the social media behemoth deals with stagnant growth and increasing competition. The social media company quietly started to push out a significant number of employees by recognizing departments and giving affected employees a short window to apply for other roles within the company. This move could prevent the widespread distribution of pink slips while accomplishing staff reduction. The number of employees at Meta increased significantly in 2021 in comparison to that in the last few years, according to GlobalData.

Decline in Meta Platforms Active Jobs 

The number of active jobs at Meta in September 2022 declined significantly when compared to that in August 2022, according to GlobalData.

Since the third quarter of 2021, the company decreased its operating expense projection, but it never previously mentioned that it will reduce headcount through methods other than natural attrition. Under company policy, employees whose responsibilities are terminated at Meta are vulnerable to termination if they are unable to get a replacement position within a month. Similarly, many other companies try to reassign staff members whose groups are dissolved or reorganized.

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