financetom
Business
financetom
/
Business
/
Meta lays off employees at WhatsApp and Instagram, the Verge reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Meta lays off employees at WhatsApp and Instagram, the Verge reports
Oct 17, 2024 2:07 PM

(Reuters) - Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.

A Meta spokesperson told Reuters in a statement that a few of its teams were making changes to align with their long-term strategic goals and location strategy.

"This includes moving some teams to different locations, and moving some employees to different roles. In situations like these when a role is eliminated, we work hard to find other opportunities for impacted employees," the spokesperson said.

The Verge report did not specify the exact number of job cuts but mentioned that they were small. Meta also did not comment on the numbers.

Separately, the Financial Times reported that Meta fired another two dozen staff in Los Angeles for allegedly using their daily $25 meal credits to instead buy household items including acne pads, wine glasses and laundry detergent.

These terminations are separate from the team restructurings and took place last week, the FT report said.

Meta declined to comment on the FT report.

Meta has slashed around 21,000 jobs since November 2022 to keep costs low with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency".

Meta shares have jumped more than 60% this year.

In its most recent second quarter results, Meta beat market expectations for revenue and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Granite Construction Insider Sold Shares Worth $876,510, According to a Recent SEC Filing
Granite Construction Insider Sold Shares Worth $876,510, According to a Recent SEC Filing
Mar 19, 2026
04:49 PM EDT, 03/19/2026 (MT Newswires) -- Kyle T Larkin, Director, President & CEO, on March 19, 2026, sold 7,314 shares in Granite Construction ( GVA ) for $876,510. Following the Form 4 filing with the SEC, Larkin has control over a total of 181,594 common shares of the company, with 181,594 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/861459/000171995026000004/xslF345X05/wk-form4_1773952990.xml ...
Fresh Del Monte Produce Completes Acquisition of Del Monte Foods Assets for $285 Million
Fresh Del Monte Produce Completes Acquisition of Del Monte Foods Assets for $285 Million
Mar 19, 2026
04:52 PM EDT, 03/19/2026 (MT Newswires) -- Fresh Del Monte Produce ( FDP ) said Thursday it has completed the acquisition of some assets of California-based Del Monte Foods Corporation II and its affiliates for about $285 million. The deal, which was approved by the US Bankruptcy Court for the District of New Jersey, will be funded via a mix...
York Space Systems Q4 Revenue Rises; 2026 Outlook Issued
York Space Systems Q4 Revenue Rises; 2026 Outlook Issued
Mar 19, 2026
04:49 PM EDT, 03/19/2026 (MT Newswires) -- York Space Systems ( YSS ) reported a Q4 net loss late Thursday of $28.5 million, wider than the $25.3 million loss a year earlier. Revenue for the quarter ended Dec. 31 was $105.3 million, up from $76.6 million a year earlier. Analysts polled by FactSet expected $102.7 million. The company said it...
BRIEF-Crane Harbor Acquisition Shareholders Approve Business Combination With Xanadu Quantum Technologies
BRIEF-Crane Harbor Acquisition Shareholders Approve Business Combination With Xanadu Quantum Technologies
Mar 19, 2026
March 19 (Reuters) - Crane Harbor Acquisition Corp ( CHAC ) : * CRANE HARBOR ACQUISITION CORP. ( CHAC ) SHAREHOLDERS APPROVE BUSINESS COMBINATION WITH XANADU QUANTUM TECHNOLOGIES INC. * CRANE HARBOR ACQUISITION CORP ( CHAC ) - COMBINED COMPANY TO BEGIN TRADING ON NASDAQ AND TSX UNDER TICKER XNDU ON MARCH 27, 2026 Source text: Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved