RESEARCH TRIANGLE PARK – Technology companies and firms with big investments in information technology are cutting jobs across the US, according to recent reports analyzing tech layoffs. And Wednesday afternoon The Wall Street Journal reported cuts are being made at Facebook parent Meta.
“Facebook parent is looking to reduce costs by at least 10%,” the Journal reported, citing sources familiar with the company’s plans.
The Journal reported that Meta “executives have spoken of cost cuts, hiring freezes and ‘ruthless prioritization.’”
However, the newspaper said the word layoffs hasn’t been used.
In June, WRAL and WRAL TechWire reported that Meta planned to establish a “significant presence” in Durham.
Some jobs are also being shuffled within Google, the Journal said.
Facebook’s parent company Meta planning ‘significant presence’ in Durham, sources say
Rising national total
Crunchbase News – part of Crunchbase which provides detailed coverage of the tech sector and funding – says more than 42,000 tech sector workers have been laid off thus far this year. Check out the latest Crunchbase News tally.
That total doesn’t include layoffs hitting New York-based real estate firm Compass which is slashing jobs, cuts that “primarily affect its technology team,” according to SFGate.com.
Also, another company focused on digital media – Bustle Digital Group – is “shuttering its tech title Input, which reports on the intersection of tech and pop culture,” according to AdWeek.
As WRAL TechWire reported on Tuesday in its exclusive Layoff Watch, job cuts continue to hit firms in North Carolina as well, from software to the solar industry and Amazon.
