Meta, the tech giant behind Facebook, Instagram, and WhatsApp, is reducing its office space in Lagos, Nigeria, in response to global layoffs that affected its local team, including the entire engineering workforce.
Meta, the parent company of Facebook, Instagram, and WhatsApp, is set to reduce its office space in Lagos following global layoffs that affected its Nigerian team in mid-2023. According to sources familiar with the matter, at least 35 employees in Nigeria were impacted by these layoffs, which included the engineering team.
Meta's decision to downsize its office space in the 15-story Kings Tower building in Ikoyi, Lagos, is part of a broader real estate renegotiation strategy amidst changing business needs. The tower reportedly commands an $800/sqm/per annum asking price. Meta, which opened its Lagos office in 2022, emphasized that the reduction in office space aligns with its global strategy to optimize real estate use and implement desk-sharing arrangements.
Despite this move, Meta has reaffirmed its commitment to Nigeria, highlighting recent plans to introduce monetization opportunities for creators on its platforms starting Q3 2024. The company's presence in Nigeria, a market with an estimated 43 million Facebook users, underscores its strategic importance despite recent operational adjustments.
Meta's downsizing in Lagos reflects broader shifts in big tech operations in Africa, with Microsoft also making significant changes, including job cuts and a focus on Kenya for new investments in data centers.
Source: TechCabal
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