Meta Platforms says it wants to 'move out low performers faster'. Reuters
Meta Platforms says it wants to 'move out low performers faster'. Reuters
Meta Platforms says it wants to 'move out low performers faster'. Reuters
Meta Platforms says it wants to 'move out low performers faster'. Reuters

Meta layoffs: Could 2025 bring another wave of cuts in technology jobs?


Alvin R Cabral
  • English
  • Arabic

Meta Platforms plans to lay off 5 per cent of its employees in an effort to attract the best talent, according to a memo reportedly sent by its chief executive this week.

The parent company of Facebook, Instagram and WhatsApp will cut a fraction of its 72,000-strong global workforce based on performance, media outlets cited the memo as saying.

Meanwhile, Microsoft, the world's largest software maker, has also reportedly said it plans to cut a "small percentage" of its workforce for similar reasons.

Both companies are trying to sell the decisions as efforts to support their growth plans, especially with advances in technology. However, for some, the job cuts invite a parallel to a worldwide cull in the technology sector two years ago.

"The factors influencing tech companies to cut jobs stem from a mix of economic pressures, strategic realignments, and the growing impact of AI," Milad Azar, a market analyst at broker XTB Mena, told The National.

"Economic factors, such as elevated interest rates and concerns about economic growth are prompting firms to adopt cost-efficient growth strategies, leading to significant layoffs."

Is it 2023 all over again?

Tech companies carried out a series of large-scale retrenchments in 2023. The trend begin in November 2022, when Meta and Amazon announced job cuts.

Meta initially laid off about 11,000 staff, or 13 per cent of its global workforce, followed by another round of 10,000 cuts in the second quarter of 2023. Amazon, the world's biggest e-commerce company, started at the same time, culminating in the culling of 9,000 roles in March that year.

Microsoft let go of more employees in the third quarter of 2023, having earlier eliminated 10,000. Google's parent Alphabet fired 12,000 people during the early months of that year, while Yahoo, Spotify and eBay also cut jobs in the thousands.

By August 2023, a total of 342,671 layoffs were recorded in the tech industry, well above the 243,075 lost for all of 2022, data from Jefferies and TrueUp showed.

Cutting costs or changing priorities?

In Mr Zuckerberg's memo this week, he mentioned that he wanted to "raise the bar and move out low performers faster".

Meta is positioning artificial intelligence at the centre of its strategy, and this year is expected to be "intense", according to Mr Zuckerberg.

"Meta is working on building some of the most important technologies in the world – Al, glasses as the next computing platform, and the future of social media," he said in the memo. Hence, he wanted to "make sure" the company has the "best people" on its roster.

In previous job culls, tech companies have attributed the decisions to varying factors, with Amazon, Microsoft and Spotify blaming them on a challenging economy. Alphabet's decision was due to a review of its product areas and functions, while Yahoo cited restructuring of certain units.

The AI question

AI is poised to replace jobs, but also create new jobs, analysts say. Jobs that require human interaction, creativity, critical thinking, strategic decision-making, emotional intelligence and advanced technical expertise are best positioned to thrive amid the AI boom, according to recruitment consultants.

Jobs in cyber security, business intelligence, big data analytics, AI development, management consulting and software engineering are in high demand, according to data from Dubai-based tech recruitment agency AIQU.

Generative AI, in particular, is an opportunity for companies to create jobs, as it continues to reshape industries and tasks across sectors, the World Economic Forum said in its recent Future of Jobs Report.

However, tech advancements are "converging with a broader array of challenges, including economic volatility, geoeconomic realignments, environmental challenges and evolving societal expectations", Saadia Zahidi, a managing director at WEF, wrote in the report.

Technology-related roles are the fastest growing jobs in percentage terms, including big data specialists, FinTech engineers, AI and machine learning specialists, and software and application developers, WEF data shows.

The waves of layoffs that have prevailed in many sectors, most notably technology, do not only come amid the possibilities of increasing efficiency using AI, but also come with uncertainty about the future of the economy, said Samer Hasn, a senior market analyst at XS.com.

"If companies do not show sufficient flexibility to adapt to the tight monetary environment, which markets are pricing in until the end of the first half of this year, it is not unlikely that we will witness a renewal of layoff waves," he told The National.

Will other companies follow suit?

That remains to be seen. When big and influential companies make job cuts, there is the possibility of a domino effect, similar to what happened in 2022 and 2023. The good news is that there have so far been no announcements from other big tech players about any layoff plans at present.

Also, Meta itself has not hit the brakes when it comes to hiring. As of Wednesday, it had a listing of nearly 2,000 jobs on its career opportunities page.

"It is unlikely we will see a repeat of the mass layoffs from 2023, though some job cuts may continue throughout this year as tech companies adjust," Mr Azar said.

"While economic growth may slow, a full recession is not expected. The tech industry tends to cycle between growth and contraction, and with recovery driven by economic stability and advancements such as AI, layoffs could lessen later in the year if conditions improve."

About Okadoc

Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed

RESULTS

2pm: Maiden Dh 60,000 (Dirt) 1,400m. Winner: Masaali, Pat Dobbs (jockey), Doug Watson (trainer).

2.30pm: Handicap Dh 76,000 (D) 1,400m. Winner: Almoreb, Dane O’Neill, Ali Rashid Al Raihe.

3pm: Handicap Dh 64,000 (D) 1,200m. Winner: Imprison, Fabrice Veron, Rashed Bouresly.

3.30pm: Shadwell Farm Conditions Dh 100,000 (D) 1,000m. Winner: Raahy, Adrie de Vries, Jaber Ramadhan.

4pm: Maiden Dh 60,000 (D) 1,000m. Winner: Cross The Ocean, Richard Mullen, Satish Seemar.

4.30pm: Handicap 64,000 (D) 1,950m. Winner: Sa’Ada, Fernando Jara, Ahmad bin Harmash.

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

The five new places of worship

Church of South Indian Parish

St Andrew's Church Mussaffah branch

St Andrew's Church Al Ain branch

St John's Baptist Church, Ruwais

Church of the Virgin Mary and St Paul the Apostle, Ruwais

 

The specs: 2019 Mini Cooper

Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km

Britain's travel restrictions
  • A negative test 2 days before flying
  • Complete passenger locator form
  • Book a post-arrival PCR test
  • Double-vaccinated must self-isolate
  • 11 countries on red list quarantine

     
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
Major honours

ARSENAL

  • FA Cup - 2005

BARCELONA

  • La Liga - 2013
  • Copa del Rey - 2012
  • Fifa Club World Cup - 2011

CHELSEA

  • Premier League - 2015, 2017
  • FA Cup - 2018
  • League Cup - 2015

SPAIN

  • World Cup - 2010
  • European Championship - 2008, 2012
Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

Manchester United v Club America

When: Thursday, 9pm Arizona time (Friday UAE, 8am)

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A

In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile

Five films to watch

Castle in the Sky (1986)

Grave of the Fireflies (1988)

Only Yesterday (1991)

Pom Poki (1994)

The Tale of Princess Kaguya (2013)

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

UAE currency: the story behind the money in your pockets
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ECVT%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E119bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E145Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C89%2C900%20(%2424%2C230)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

Trolls World Tour

Directed by: Walt Dohrn, David Smith

Starring: Anna Kendrick, Justin Timberlake

Rating: 4 stars

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Six large-scale objects on show
  • Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
  • The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
  • A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
  • Frank Lloyd Wright’s 1930s Kaufmann Office
  • A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
  • Torrijos Palace dome
'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Bridgerton%20season%20three%20-%20part%20one
%3Cp%3E%3Cstrong%3EDirectors%3A%20%3C%2Fstrong%3EVarious%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nicola%20Coughlan%2C%20Luke%20Newton%2C%20Jonathan%20Bailey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Updated: January 15, 2025, 12:55 PM`