Re:Meta plans to cut 10% of UK workforce in retreat from London
by penny11k on Thursday April 20, 2023 @06:56PM
(#35647649)
You know it was only a year ago when the man running instagram, Adam Mosseri, had relocated to London that seemed to reinforce the city's significant role as a vital hub for the company. While London was already Meta's most prominent tech development center outside of the United States, the addition of Mosseri, along with Sir Nick Clegg, the head of global affairs, and Alex Schultz, the chief marketing officer, further elevated the city's status as a center of influence. But now they are retreating? Whats the bloody problem guys?
Instagram had a substantial team in London and was expanding with the addition of the bosses. However, it has emerged that Instagram will be relocating or cutting the majority of its staff in London, including engineers, with 250 job losses as part of a wider cut that affected over 600 roles. The cuts are not linked to Mosseri's move to California, and he always planned to stay in London temporarily. The cuts are also a sign that the layoffs affecting Silicon Valley are affecting London, which has become a major hub for American tech giants. The tech boom in the UK led companies to look elsewhere for talent because of surging salaries in Silicon Valley. Other major tech companies have also expanded heavily in the UK, such as Google, Apple, Amazon, Microsoft, and Meta. However, the expansion plans have led to calls for regulation.
See figure 5
https://migrationobservatory.ox.ac.uk/resources/briefings/mi...
India is the biggest source of our migrants, specially in London.
I'm pro-migration and immigration but the picture painted by our Government puts all the blame on immigrants fleeing war-torn countries.
Heck I met someone on the train who'd came in via Heathrow and he said the process of getting his visa in India was easier than its ever been for him.
Instagram had a substantial team in London and was expanding with the addition of the bosses. However, it has emerged that Instagram will be relocating or cutting the majority of its staff in London, including engineers, with 250 job losses as part of a wider cut that affected over 600 roles. The cuts are not linked to Mosseri's move to California, and he always planned to stay in London temporarily. The cuts are also a sign that the layoffs affecting Silicon Valley are affecting London, which has become a major hub for American tech giants. The tech boom in the UK led companies to look elsewhere for talent because of surging salaries in Silicon Valley. Other major tech companies have also expanded heavily in the UK, such as Google, Apple, Amazon, Microsoft, and Meta. However, the expansion plans have led to calls for regulation.