Meta Platforms plans to lay off 5 per cent of its employees in an effort to attract the best talent, according to a memo reportedly sent by its chief executive this week.
The parent company of Facebook, Instagram and WhatsApp will cut a fraction of its 72,000-strong global workforce based on performance, media outlets cited the memo as saying.
Meanwhile, Microsoft, the world's largest software maker, has also reportedly said it plans to cut a "small percentage" of its workforce for similar reasons.
Both companies are trying to sell the decisions as efforts to support their growth plans, especially with advances in technology. However, for some, the job cuts invite a parallel to a worldwide cull in the technology sector two years ago.
"The factors influencing tech companies to cut jobs stem from a mix of economic pressures, strategic realignments, and the growing impact of AI," Milad Azar, a market analyst at broker XTB Mena, told The National.
"Economic factors, such as elevated interest rates and concerns about economic growth are prompting firms to adopt cost-efficient growth strategies, leading to significant layoffs."
Is it 2023 all over again?
Tech companies carried out a series of large-scale retrenchments in 2023. The trend begin in November 2022, when Meta and Amazon announced job cuts.
Meta initially laid off about 11,000 staff, or 13 per cent of its global workforce, followed by another round of 10,000 cuts in the second quarter of 2023. Amazon, the world's biggest e-commerce company, started at the same time, culminating in the culling of 9,000 roles in March that year.
Microsoft let go of more employees in the third quarter of 2023, having earlier eliminated 10,000. Google's parent Alphabet fired 12,000 people during the early months of that year, while Yahoo, Spotify and eBay also cut jobs in the thousands.
By August 2023, a total of 342,671 layoffs were recorded in the tech industry, well above the 243,075 lost for all of 2022, data from Jefferies and TrueUp showed.
Cutting costs or changing priorities?
In Mr Zuckerberg's memo this week, he mentioned that he wanted to "raise the bar and move out low performers faster".
Meta is positioning artificial intelligence at the centre of its strategy, and this year is expected to be "intense", according to Mr Zuckerberg.
"Meta is working on building some of the most important technologies in the world – Al, glasses as the next computing platform, and the future of social media," he said in the memo. Hence, he wanted to "make sure" the company has the "best people" on its roster.
In previous job culls, tech companies have attributed the decisions to varying factors, with Amazon, Microsoft and Spotify blaming them on a challenging economy. Alphabet's decision was due to a review of its product areas and functions, while Yahoo cited restructuring of certain units.
The AI question
AI is poised to replace jobs, but also create new jobs, analysts say. Jobs that require human interaction, creativity, critical thinking, strategic decision-making, emotional intelligence and advanced technical expertise are best positioned to thrive amid the AI boom, according to recruitment consultants.
Jobs in cyber security, business intelligence, big data analytics, AI development, management consulting and software engineering are in high demand, according to data from Dubai-based tech recruitment agency AIQU.
Generative AI, in particular, is an opportunity for companies to create jobs, as it continues to reshape industries and tasks across sectors, the World Economic Forum said in its recent Future of Jobs Report.
However, tech advancements are "converging with a broader array of challenges, including economic volatility, geoeconomic realignments, environmental challenges and evolving societal expectations", Saadia Zahidi, a managing director at WEF, wrote in the report.
Technology-related roles are the fastest growing jobs in percentage terms, including big data specialists, FinTech engineers, AI and machine learning specialists, and software and application developers, WEF data shows.
The waves of layoffs that have prevailed in many sectors, most notably technology, do not only come amid the possibilities of increasing efficiency using AI, but also come with uncertainty about the future of the economy, said Samer Hasn, a senior market analyst at XS.com.
"If companies do not show sufficient flexibility to adapt to the tight monetary environment, which markets are pricing in until the end of the first half of this year, it is not unlikely that we will witness a renewal of layoff waves," he told The National.
Will other companies follow suit?
That remains to be seen. When big and influential companies make job cuts, there is the possibility of a domino effect, similar to what happened in 2022 and 2023. The good news is that there have so far been no announcements from other big tech players about any layoff plans at present.
Also, Meta itself has not hit the brakes when it comes to hiring. As of Wednesday, it had a listing of nearly 2,000 jobs on its career opportunities page.
"It is unlikely we will see a repeat of the mass layoffs from 2023, though some job cuts may continue throughout this year as tech companies adjust," Mr Azar said.
"While economic growth may slow, a full recession is not expected. The tech industry tends to cycle between growth and contraction, and with recovery driven by economic stability and advancements such as AI, layoffs could lessen later in the year if conditions improve."
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S23%20ULTRA
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Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
Torque: 250Nm at 3,00rpm
Transmission: 5-speed sequential auto
Price: From Dh139,995
On sale: now
SPECS
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
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More from Rashmee Roshan Lall
BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Killing of Qassem Suleimani
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Zayed Sustainability Prize
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COMPANY%20PROFILE
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RESULTS
Time; race; prize; distance
4pm: Maiden; (D) Dh150,000; 1,200m
Winner: General Line, Xavier Ziani (jockey), Omar Daraj (trainer)
4.35pm: Maiden (T); Dh150,000; 1,600m
Winner: Travis County, Adrie de Vries, Ismail Mohammed
5.10pm: Handicap (D); Dh175,000; 1,200m
Winner: Scrutineer, Tadhg O’Shea, Ali Rashid Al Raihe
5.45pm: Maiden (D); Dh150,000; 1,600m
Winner: Yulong Warrior, Richard Mullen, Satish Seemar
6.20pm: Maiden (D); Dh150,000; 1,600m
Winner: Ejaaby, Jim Crowley, Doug Watson
6.55pm: Handicap (D); Dh160,000; 1,600m
Winner: Storyboard, Richard Mullen, Satish Seemar
7.30pm: Handicap (D); Dh150,000; 2,200m
Winner: Grand Dauphin, Gerald Mosse, Ahmed Al Shemaili
8.05pm: Handicap (T); Dh190,000; 1,800m
Winner: Good Trip, Tadhg O’Shea, Ali Rashid Al Raihe
Company%20profile
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
UAE and Russia in numbers
UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
Freezer tips
- Always make sure food is completely cool before freezing.
- If you’re cooking in large batches, divide into either family-sized or individual portions to freeze.
- Ensure the food is well wrapped in foil or cling film. Even better, store in fully sealable, labelled containers or zip-lock freezer bags.
- The easiest and safest way to defrost items such as the stews and sauces mentioned is to do so in the fridge for several hours or overnight.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
