Meta, the company that provides search engine optimization SE o and social media marketing services, is laying off 20 percent of its workforce as it pushes to reduce costs. Meta move follows a number of other layoffs in the SE o and social media marketing industries. In the past year, Google has announced plans to down rank websites that rely excessively on paid advertising, and Facebook has made changes that make it more difficult for businesses to use its platform to generate leads and drive traffic. These cost cutting moves by search engines and social networks are forcing businesses to find new ways to generate revenue.
Meta is one of several companies that provide SE o and social media marketing services. These companies are facing difficult times as search engines and social networks make changes that make it more difficult for businesses to generate revenue from their platforms.
Meta Real Estate Announces Restructuring Plans
Meta Real Estate, one of the largest real estate firms in the country, announced restructuring plans today that include layoffs and other cost cutting measures. The company says it will reduce its workforce by up to 20% and close or sell several under performing offices. Meta also said it will focus on “core markets” and abandon some less profitable areas. CEO Brett Miller says the changes are necessary to stay afloat as the industry faces a challenging environment.
The real estate industry has been struggling nationwide for months, with layoffs and other cost cutting measures being common. Meta is one of the larger firms affected by the slowdown, and its restructuring plans reflect that. The company says it expects to incur a loss in the first quarter of fiscal year 2018, but it expects to be profitable by the end of the fiscal year.
Meta Said to Be Reviewing Its Assets and Liabilities
As part of its cost-cutting efforts, Meta said on Tuesday it is reviewing its assets and liabilities. The review comes as the company looks to reduce costs by $100 million in fiscal 2019.
Meta said it expects the review to result in a one-time charge of $15 million to its fiscal 2019 results.
Meta, a social media company, said it expects the review to result in a one time charge of $15 million to its fiscal 2019 results.
Meta Cuts Jobs, Divests Units
Meta Group, a digital marketing firm, has announced that it is cutting jobs and divesting some units in a cost cutting push. According to the company, the moves will save it $4 million in 2018. Meta has around 225 employees and over 60 divestitures planned. The company said the goal is to create “more agile, nimble and profitable” businesses.
This is not Mata’s first cost cutting move. In 2017, it merged with another marketing firm to create a larger organization. That merger led to layoffs of around 50 employees.
Meta Said to Be Considering Sale of its European Business
Meta, the global digital media company, is said to be considering the sale of its European business, according to sources. The move comes as Meta looks to cut costs amid a tough cost-cutting push.
The sale would represent a significant departure for Meta, which has long been considered one of the leading global players in digital media. In recent years, however, Meta has seen its share of the online ad market decline as rivals such as Facebook and Google gain ground.
As a result of these challenges, Meta has reportedly been struggling to make money from its European operations. According to sources familiar with the matter, the company is now looking at ways to offload its European business in order to improve its financial situation.
The sale would bring in an estimated $1 billion in proceeds. It’s unclear which companies might be interested in acquiring Meta European business.
Conclusion
Meta, the data management and analysis company, has been under pressure to reduce costs in recent months. In a blog post on Tuesday, Meta CEO John Berry said that “the winds of change are blowing” across the industry and that his company is responding with aggressive cost cutting measures.
Meta will be implementing a furlough policy for its employees beginning next week; this means that employees will have their pay reduced by 10% while they are without work. Additionally, Berry said that Meta plans to outsource certain functions within the company in order to reduce costs. These cost cutting measures come as Meta seeks to bolster its finances by $10 million over the next year.