April 14, 2024
Instagram staff in London to be cut or relocated to U.S.: report

Instagram staff in London to be cut or relocated to U.S.: report

Meta Platforms will be cutting or relocating around 100 London-based employees working at Instagram, Bloomberg reported late Wednesday.

Instagram’s presence in London expanded early last year when leader Adam Mosseri moved there temporarily. Mosseri plans to move back to the U.S. and will bring along the staff members who aren’t laid off, the report said, citing a person familiar with the matter.

Around 100 staff at Instagram are said to be impacted by the move. The London office was the company’s first international expansion back in 2013.

The news comes as Meta META, -1.22% began its latest round of job cuts this week, which would affect 10,000 staff in the engineering and tech team departments across Facebook, WhatsApp, Instagram and Reality Labs, according to a company memo, Bloomberg said.

Further cuts are expected in May.

CEO Mark Zuckerberg’s push for restructuring started last fall, when over 11,000 employees were hit with layoffs, causing a wave of job cuts across other big tech companies.

More: More than 157,000 tech-sector employees have lost their jobs since the start of 2023

Meta is set to report its first-quarter results next Wednesday and all eyes are focused on AI and advertising. Its stock was 1% down premarket on Thursday.

Meta did not immediately respond to MarketWatch’s request for comment.

Read: AI is the word as Alphabet and Meta get ready for earnings

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