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The Markets
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The Markets
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Online business & e-commerce

Instagram to move London offices to New York

Meta Platforms Inc's (NASDAQ:FB) Instagram is relocating a large portion of its staff from London to New York.

The move comes only eight months after the social media app’s boss, Adam Mosseri, moved to the UK from California.

Instagram already has teams in New York which focus on working with influencers and content creators.

London was home to the photo-sharing app's first international headquarters back in 2013 and is Meta’s largest engineering base outside of the US with 4,000 workers.

The move is likely part of the Facebook owner's restructuring plans, having announced the intention to cut around 20,000 jobs.

Workers at the tech company are facing yet another round of layoffs, with reports indicating that around 4,000 staff are expected to be axed over the coming weeks.

The cuts come after Meta and many tech firms began hiring workers to help combat a pandemic-driven spike in demand.

HSBC too recently revealed it was mulling either a move away from its London office in Canary Wharf or downsizing office space due to an increased number of staff working from home.

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