Meta announces more layoffs in keeping with weak revenues

The latest layoffs – part of a 3-stage restructuring plan – have reduced Meta’s workforce by several thousand. On Wednesday, dozens of employees from content strategy, marketing, media partnerships and other non-engineering roles took to Twitter that they have been asked to go. This list includes Avinash Pant and Saket Jha. Pant was the director of marketing and Jha oversaw the media partnerships in the Indian market.Last Autumn, Meta had announced another set of layoffs that amounted to 10,000. With the latest job cuts, the company’s total headcount stands at its mid-2021 levels.

Why these retrenchments

Meta’s layoffs are linked to its weak performance as an advertising platform. Fewer people are using food delivery platforms – one of the major advertising partners of Meta – post the pandemic. This has strained Meta’s finances ever since the Company pumped billions of dollars into its virtual reality business.

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Meta observers also say that many jobs like advertising, program management, marketing and content strategy are redundant following the advent of AI. Meta has also asked people in enterprise engineering and site security to go.

Focus on engineering

It seems Mark Zuckerberg, CEO of Meta, wants his company to focus more on coding than anything else. That’s why, fewer coders have been asked to quit Meta. People in the know say that lately, Meta had shifted its focus from coding to marketing and content and this was hurting the company’s revenues. With these layoffs, Zuckerberg hopes to achieve an optimal balance between coding and non-coding jobs. Facebook is also encouraging its users to post more videos, particularly short clips, to gain more viewership. This way, the social media platform hopes to attract creators from YouTube.

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