In view of the huge losses it suffered this year, the super company "Meta" (formerly Facebook) is preparing for extensive cuts among its employees as early as Wednesday.
This is an unprecedented move in the social giant's 18 years of activity, according to reports in the American media.
After losing about 70% of its value, the company, which employs about 87,000 people, will announce this week that thousands of its employees will be forced to find another job, in a move that is expected to be one of the most dramatic ever in the field.
Moshe Redman, CEO of Anyvers and an international expert on innovation and technology, estimates that the layoffs will eventually reach Israel as well.
I assume that if there are cuts, it will be in the advertising space because Zuckerberg is betting hard on the 'Metaverse'.
"I see no reason why the Israeli branch will not be affected if the cut really happens, despite its uniqueness in terms of performance and development scope. I assume they can reach a few dozen employees in Israel. The headquarters in Israel is not that big, neither on the advertising side nor on the development side."
In September, the "Wall Street Journal" reported that the social giant was preparing to cut about 10% of its workforce.
The main reason for the mass layoffs is the alarming state of the company, which returned to parity from 2016, after failing to meet quarterly targets due to the appearance of new players on the scene, such as Tiktok.
"In Israel they treat less".
Meta CEO Mark Zuckerberg, photo: AP
Meta Israel refused to comment on the news and referred us to Zuckerberg's statement that the company will focus its investments on a small number of high priorities and growth areas.
It is estimated that by the end of 2023 "Meta" will remain a company of the same size or will shrink slightly.
were we wrong
We will fix it!
If you found an error in the article, we would appreciate it if you shared it with us