Company employs several thousand people in Dublin via IrishTimesBiz
The cuts would days after Twitter under new owner Elon Musk set out to roughly halve its workforce, with that company’s Dublin office apparently closed on Friday. It is not yet clear if it will reopen on Monday. Stripe meanwhile said it would lay off 14 per cent of its headcount globally, roughly equivalent to 1,000 people.
Minister for Enterprise Leo Varadkar was not informed of either Twitter or Stripe’s lay-offs ahead of time, as is customary under Irish law, The Irish Times reported on Saturday. Meta has struggled this year, as the business grapples with declines in advertising revenue. The company’s shares fell by more than a fifth on October 27th after the firm’s quarterly earnings missed market expectations. Speaking to analysts at the time, chief executive Mark Zuckerberg said the company would focus its investments on “a small number of high priority growth areas” in 2023.
“Some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year,” he said. “In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organisation than we are today.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook parent Meta reported to plan large-scale lay-offsFacebook parent Meta reported to plan large scale layoffs
Read more »
Facebook parent Meta reported to plan large-scale staff cutsCompany employs several thousand people in Dublin via IrishTimesBiz
Read more »
Facebook parent Meta reportedly planning large-scale staff cutsMeta’s plans will affect many thousands of staff, the Wall Street Journal reported late on Sunday, citing people familiar with the matter. The company could announce the lay-offs as soon as Wednesday, the newspaper said.
Read more »
Meta: Fears for more tech sector jobs as Facebook plans cutsThere are fears for more jobs in the Irish tech sector, as Facebook and Instagram owner Meta plans cuts.
Read more »
Facebook owner Meta reportedly planning massive layoffsThe Wall Street Journal reported that the layoffs could impact 'many thousands' of Meta employees
Read more »
Meta planning large-scale job cuts this week - reportFacebook parent Meta is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal has reported citing people familiar with the matter.
Read more »