Meta, the parent company of Facebook, Instagram, and WhatsApp, is downsizing its office space in Lagos following layoffs that affected its Nigerian workforce in mid-2023.
Sources reveal that at least 35 employees, including the entire local engineering team at Meta, were let go as part of these global reductions. The company’s engineering needs for the region will now be managed from various global hubs outside Nigeria.
The company is working to optimize real estate usage and transition to a desk-sharing model for employees who predominantly work remotely.
This office downsizing involves renegotiating its lease in the Kings Tower building in Ikoyi, Lagos, where rental rates stand at $800 per square meter annually.
Nick Clegg, Meta’s President of Global Affairs, visited Nigeria in March 2024 to announce new monetization features for creators, set to launch in the third quarter of 2024. Nigeria remains an essential market for Meta, with an estimated 43 million Facebook users, according to Statista.
Tech giants are currently reassessing their operations in Africa. Microsoft recently closed its African Development Centre, eliminating over 100 engineering positions in May 2024. The company has moved its focus to Kenya, where it plans investments in data centers.
Meta’s initial expansion into Nigeria included the 2022 opening of its Lagos office, which housed teams across various functions including Sales, Partnerships, Policy, and Communications. This followed the launch of NG_Hub, a community hub in partnership with CcHub in 2018, and a Small Business Group Operations Centre in 2019.
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