Hundreds of jobs will be cut at Facebook's Silicon Valley headquarters later this month because of a contract cancellation.
According to documents filed with the state of California, the cuts will go into effect on July 25th.
The decision will affect 368 employees at 1 Hacker Way, according to a letter written by a human resources manager. Kitchen cleaners, night cleaners, recycling sorters and cafe support are included in the cuts.
There is no independent knowledge of the hiring plans of the vendor that has been hired to perform these services.
Facebook's online ad business is facing a slowdown due to rising inflation, the war in Ukraine and privacy changes. In May, the company said it was slowing the pace of hiring after forecasting a revenue drop in the second quarter.
There was no reason given for the contract to be terminated. A Facebook representative said the company plans to replace the vendor with another company, but didn't say how many workers will be part of the contract
A representative from the company didn't reply immediately.
On its December earnings call, ABM stated that it counts Facebook, Google and Adobe as clients. They were among technology companies that had expanded their offices.
Since the start of the Covid-19 Pandemic in 2020, Facebook has been quieter. Employees were given the chance to apply for permanent remote work when the company decided to return to the office. Some employees in the Bay Area were able to return to work in May.
The company has cut plans to hire engineers by at least 30%. According to reports, Meta leadership told employees to identify and report low performers.
Jonathan Vanian and Kif Leswing worked for CNBC.
Meta cut hiring target.
All Rights Reserved © 2024
