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Business News/ News / India/  Meta layoffs: Top executives in India lose jobs; Facebook owner lets go more employees to eliminate 10,000 roles
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Meta layoffs: Top executives in India lose jobs; Facebook owner lets go more employees to eliminate 10,000 roles

About 4,000 employees at Facebook owner Meta lost their jobs in April.

In this file photo taken on October 28, 2021, a person walks past a newly unveiled logo for Meta, Facebook's parent company, outside Facebook headquarters in Menlo Park, California. (Photo by NOAH BERGER / AFP) (AFP)Premium
In this file photo taken on October 28, 2021, a person walks past a newly unveiled logo for Meta, Facebook's parent company, outside Facebook headquarters in Menlo Park, California. (Photo by NOAH BERGER / AFP) (AFP)

Facebook's parent company, Meta Platforms, has implemented a final phase of job cuts, affecting various departments and operations. The layoffs were part of a larger plan announced in March to eliminate a total of 10,000 roles.

Among the affected employees are Avinash Pant, the director of marketing for India, and Saket Jha Saurabh, the director and head of media partnerships. These top executives did not provide immediate comments to Reuters on the matter.

Numerous employees in teams such as marketing, site security, enterprise engineering, program management, content strategy, and corporate communications have taken to LinkedIn to share news of their layoffs. Additionally, Meta has reduced staff in units dedicated to privacy and integrity.

Also Read: Facebook owner Meta starts final round of layoffs

Earlier in 2023, Meta became the first major technology company to initiate a second round of mass layoffs. This came after the company had previously let go of over 11,000 employees. Despite the downsizing, Meta's share value has more than doubled this year, thanks to cost-cutting measures and the company's focus on artificial intelligence.

Meta's decision to downsize follows a period of declining revenue growth, driven by inflation and a reduction in digital advertising due to the slowdown in e-commerce during the pandemic.

Meta CEO Mark Zuckerberg previously indicated that the majority of the second round of layoffs would occur in three phases over a span of several months, with most being completed by May. Further smaller rounds of cuts may take place afterward.

Also Read: JioMart layoffs: Over 1,000 employees, including 500 executives, asked to resign

The recent cuts have predominantly affected non-engineering roles, reaffirming the significance of engineering positions at Meta. Zuckerberg has expressed intentions to substantially restructure the business teams and achieve a more balanced ratio of engineers to other roles.

The latest round of layoffs is expected to impact approximately 490 employees at Meta's international headquarters in Dublin, accounting for nearly 20% of its Irish workforce.

(With agency inputs)

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ABOUT THE AUTHOR
Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and sports. Before working with digital news publications, he worked as a freelance content writer.
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Published: 25 May 2023, 10:39 AM IST
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