Report: Meta, Google quietly reducing workforce

Wednesday, 21. September 2022 18:58

Facebook parent company Meta Platforms Inc. has started reorganizing departments and telling employees to apply for other roles within the company, per the report published by the Wall Street Journal on Wednesday. The 10% cost reduction plan is expected to be realized in the upcoming months, according to sources familiar with the matter, with some of it likely coming from workforce reduction.

At the same time, Alphabet Inc.'s Google instructed 120 employees to look for new positions within the company in the next 90 days as part of cost-cutting measures. However, the tech giant asserted nearly 95% of those who wanted to stay in the company found new posts within this period. Google's number of staff annually increased by about 20% in 2022, while Facebook had 32% more employees compared to last year.

Related Links: Alphabet Inc.Meta Platforms Inc.
Author:
Baha Breaking News (BBN) / ND