[HN Gopher] Meta plans to cut 10% of UK workforce in retreat fro...
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       Meta plans to cut 10% of UK workforce in retreat from London
        
       Author : mfiguiere
       Score  : 21 points
       Date   : 2023-04-20 19:48 UTC (3 hours ago)
        
 (HTM) web link (www.ft.com)
 (TXT) w3m dump (www.ft.com)
        
       | pfannkuchen wrote:
       | By this standard aren't they retreating from Earth?
        
       | penny11k wrote:
       | 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.
        
       | slaw wrote:
       | Is it enough to improve housing market in London?
        
         | Smaug123 wrote:
         | The removal of about 500 people (not all of whom will leave
         | London) and perhaps their families from a city of population
         | about 9mm? I imagine not.
        
           | slaw wrote:
           | Not enough, but at least there is a start.
        
             | killingtime74 wrote:
             | Around 4,000 move to London every week. 500 (not all/any of
             | whom are leaving) is less than 1 days worth
        
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       (page generated 2023-04-20 23:03 UTC)