So now we know: around 400 people from Meta will lose their jobs.
While the company has not confirmed the exact number, it says the percentage affected here will be “similar” to the global layoff figure of 13pc.
For those being let go, it’s a much less positive jobs climate than the one they would have encountered a year ago in Dublin.
Back then, recruiters would be tripping over themselves to offer you jobs at the same salary, or higher, in another tech or consultancy firm.
Today, most big tech firms are either letting people go or have a hiring freeze in place.
There are exceptions. TikTok is still adding 1,000 people, as is Workday. But overall, the market is now hunkering down rather than begging you to join.
As for Meta, Ireland has 3,000 staff currently working at the parent firm of Facebook, Instagram and Whatsapp.
The staff job losses may not be the overall picture, though.
While Meta says that up to 6,000 contractors — workers from engineers to cleaners employed by third party agencies — won’t be affected by today’s announcement, it doesn’t mean it will still have that number next year. If the company’s business is being tightened, as CEO Mark Zuckerberg says it is at present, there may inevitably see less work for all of those third party firms.
As to who exactly is being laid off in the Irish headquarters, the company would only say today that “some teams will be affected more than others”. Those working in “business” teams, including sales and marketing, may expect deeper cuts than others, according to a staff email sent by Mr Zuckerberg. Recruitment teams will also be in the front line.
There is relief for some who won’t be affected, such as the small number of staff at Meta’s data centre operations in Meath.
The reason that the company can’t offer an exact figure on the job cuts is that it is now going through official redundancy consultation channels with state agencies and government departments.
But a clearer picture of who is actually affected may start to emerge over the coming days. According to the company, affected individuals will lose access to systems today and tomorrow.
It should become clearer in the coming weeks whether this is all just a correction or a warning sign for a deeper recession to come.
In his letter to staff, Mark Zuckerberg said it might be a bit of both.