Coinworld reports that Meta plans to lay off more than 10% of its UK staff and abandon Instagram's new center in London. An internal document shows that Meta will abolish at least 687 jobs, mainly in London, and that in the UK total of about 5,000 employees, many more people are at risk of future layoffs. Previously, Meta had said it planned to cut more than 20,000 jobs in recent months. The company's chief executive, Mark Zuckerberg, said the move will improve the efficiency of Meta's operations. As of the end of 2022, the company will employ approximately 86,000 people worldwide. The personnel changes, along with rising inflation and other macroeconomic concerns, including a disruptive change to Apple's privacy rules, have prompted investors in recent months to call for the 
551 billion social media company to take control of its finances.
551 billion social media company to take control of its finances.
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