Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Meta, the US-based parent company of Facebook, Instagram and Whatsapp, has announced a global restructuring plan which will cut 10,000 jobs from its workforce (Meta 2023 - WO), around 490 jobs are expected to be cut at Meta's Irish operation. It is understood the redundancies will impact a number of teams including finance, sales, marketing, analytics, operations and engineering.
Staff at the parent company were informed of the job cuts on 24 May and a collective consultation process will get under way. The final number of redundancies will not be known until that process has been completed but Meta has informed the Government that it expects approximately 490 full-time roles to be made redundant.
The plan is in addition to the 320 job cuts made in Ireland (Meta 2022 - IE) out of the 11,000 job cuts announced in November, 2022 (Meta-2022-WO).
The company employed around 2,800 people in Ireland prior to the redundancies in November 2022. Meta will continue to base its international headquarters in Ireland.
Eurofound (2023), Meta, Internal restructuring in Ireland, factsheet number 109120, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/109120.
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