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Meta aims to cut costs by at least 10% within next few months - WSJ

22 Tháng Chín 2022
Meta aims to cut costs by at least 10% within next few months - WSJ © Reuters. A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier
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(Reuters) - Meta Inc is looking to trim its costs by at least 10% within the next few months, the Wall Street Journal reported on Wednesday, citing people familiar with the company's plans.

The reported figure represents a big jump from the earlier forecast of about 2% to 4% cost cuts that Meta announced in July. ()

To meet its latest target, the Facebook (NASDAQ:META) parent has already started nudging out a large number of staffers by reorganizing departments and providing affected employees a limited window to apply for other roles within Meta, the report said.

The idea behind the move is to achieve staffing cuts while forestalling the mass issuance of pink slips, and the reductions are expected to be a prelude to deeper cuts, according to the report.

Meta on Wednesday reiterated its plans to steadily reduce headcount growth over the next year in an emailed response.

The company's business has taken a hit in recent months as recession fears and competitive pressures hit digital ads sales.

Reuters had reported in June that Meta had cut plans to hire engineers by at least 30% this year as it prepares for a deep economic downturn.

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30-09-2022 10:39:19 (UTC+7)

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    EUR/USD 0.9805 Neutral  
    GBP/USD 1.1099 Buy  
    USD/JPY 144.70 Neutral  
    AUD/USD 0.6493 Buy  
    USD/CAD 1.3707 Neutral  
    EUR/JPY 141.88 ↑ Buy  
    EUR/CHF 0.9571 ↑ Buy  
    Gold 1,670.70 ↑ Buy  
    Silver 18.832 ↑ Sell  
    Copper 3.4192 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 87.06 ↑ Sell  
    Natural Gas 6.857 ↑ Sell  
    US Coffee C 225.55 ↑ Buy  
    Euro Stoxx 50 3,279.04 ↑ Buy  
    S&P 500 3,640.47 Neutral  
    DAX 11,975.55 ↑ Buy  
    FTSE 100 6,881.59 ↑ Buy  
    Hang Seng 17,192.00 ↑ Buy  
    Small Cap 2000 1,671.71 Buy  
    IBEX 35 7,300.10 Buy  
    BASF 38.850 ↑ Sell  
    Bayer 47.72 ↑ Sell  
    Allianz 159.62 ↑ Buy  
    Adidas 124.02 ↑ Sell  
    Lufthansa 5.817 ↑ Buy  
    Siemens AG 98.26 Neutral  
    Deutsche Bank AG 7.594 Sell  
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