- Meta Platforms, Inc’s META Instagram is migrating most of its team, including the social media platform’s head Adam Mosseri, from London to New York as part of a widespread restructuring.
- Instagram had recently been building a new hub in the U.K., where its engineering and product teams are based, but is now asking workers to move to the U.S., bringing it back under centralized control, Financial Times reports.
- Mosseri moved from California to London less than eight months ago.
- Meta proposes to base Instagram primarily in New York, where it already has large teams of staff who work on engaging with the platform’s content creators.
- London was Instagram’s first international office, established in 2013. In 2022, the city was Meta’s most extensive global engineering base outside the U.S., with about 4,000 staff.
- Since then, Meta has shared plans to axe over 20,000 jobs.
- Mosseri’s ambitions for London, where he anticipated building a large team with several layers of seniority in the city, have been crushed by Meta’s cost-cutting.
- As Zuckerberg slashed jobs, explicitly targeting “middle managers . . . to make decisions faster”, the Instagram team was sporadically restructured and often reported back to the U.S. for instructions.
- Price Action: META shares traded lower by 0.90% at $213.75 premarket on the last check Thursday.
- Photo by Neeclick via Pixahive
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