After mass layoffs, Big Tech companies vague about Canadian expansion plans

OTTAWA — In late March, Facebook parent Meta announced plans to build a new engineering hub in Toronto and hire more than 2,500 new staff over five years across the country. The technology giant’s executives, flanked by Ontario premier Doug Ford and the minister of economic development, Vic Fedeli, said at the time that the hub would play a key role in the creation of Meta’s metaverse. 

Yet less than eight months later, the company made its largest recorded layoffs as a public company, cutting 11,000 global employees, including Canadian staff. Across the industry, 850 tech companies have laid off more than 136,000 workers around the world, with 45,000 of those occurring in November alone, according to data from the website

    Subscribe now to start reading premium, award-winning journalism.

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Alberta Premier Danielle Smith speaking into a microphone at a translucent podium. She is wearing a green blazer.


    Mitsubishi to ‘aggressively’ advance Ontario lithium project with $25M investment

    Manitoba Premier Wab Kinew plans U.S. trip to ‘rebuild the relationship’ with trading partner

    General Atlantic buys majority stake in Montreal-based Plusgrade

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited