Facebook's parent company Meta is planning large-scale layoffs this week in a blow to thousands of workers.
Fears are growing for the 6,000 Irish workers who work in the company's European headquarters in Dublin's Grand Canal Square. The firm reported a fourth weak quarter and around $67 billion was wiped off Meta's stock market value.
Meta is expected to make an announcement as early as Wednesday, The Wall Street Journal reports. Speaking on the last earnings call in late October, Chief Executive Mark Zuckerberg said: "In 2023, we're going to focus our investments on a small number of high-priority growth areas.
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"So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today."
The firm employs 83,500 people across the world.
The news comes after Twitter laid off as many as half of its global workforce last week. However, several former employees were asked to return after the company claimed they were "fired in error" or were deemed "too essential".
Last week online payment company Stripe confirmed that redundancies would commence in an email sent round to its existing workforce. The company currently employs 8,000 people worldwide, 600 of whom are based in Dublin alone.
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