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How Facebook's Metaverse Could Undermine Europe's Tech Industry

Mark Zuckerberg boasted that his U.S. tech giant will begin a hiring spree in Europe to build his massive "Metaverse." Touted as an opportunity for Europe, the plans could poach precious tech talent from European tech companies.

How Facebook's Metaverse Could Undermine Europe's Tech Industry
Carl-Johan Karlsson

PARIS — Facebook's decision to recruit 10,000 people across the European Union might be branded as a vote of confidence in the strength of Europe's tech industry. But some European companies, which are already struggling to fill highly-skilled roles such as software developers and data scientists, are worried that the tech giant might make it even harder to find the workers that power their businesses.


Facebook's new European staff will work as part of its so-called "metaverse," the company's ambitious plan to venture beyond its current core business of connected social apps.

Shortage of French developers

Since Facebook CEO Mark Zuckerberg announced his more maximalist vision of Facebook in July, the concept of the metaverse has quickly become a buzzword in technology and business circles. Essentially a sci-fi inspired augmented reality world, the metaverse will allow people to interact through hardware like augmented reality (AR) glasses that Zuckerberg believes will eventually be as ubiquitous as smartphones.

The ambition to build what promoters claim will be the successor to the mobile internet comes with a significant investment, including multiplying the 10% of the company's 60,000-strong workforce currently based in Europe. The move has been welcomed by some as a potential booster for the continent's tech market.

Eight out of 10 French software companies say they can't find enough workers.

"In a number of regions in Europe there are clusters of pioneering technology companies. A stronger representation of Facebook can support this trend," German business daily Handelsblatt notes.

And yet the enthusiasm isn't shared by everyone. In France, company leaders worry that Facebook's five-year recruiting plan will dilute an already limited talent pool, with eight out of 10 French software companies already having difficulties finding staff, daily Les Echos reports.

The profile of Facebook founder Mark Zuckerberg displayed on a smartphone

Cris Faga / ZUMA

Teleworking changes the math

There is currently a shortage of nearly 10,000 computer engineers in France, with developers being the most sought-after, according to a recent study by Numéum, the main employers' consortium of the country's digital sector.

Facebook has said its recruiters will target nations including Germany, France, Italy, Spain, Poland, the Netherlands and Ireland, without mentioning specific numbers in any country. But the French software sector, which has so far managed to retain 59% of its workforce, fears that its highly skilled and relatively affordable young talent will be fertile recruiting grounds — especially since the pandemic has ushered in a new era of teleworking.

Facebook's plan to build its metaverse comes at a time when the nearly $1-trillion company faces its biggest scandal in years over damning internal documents leaked by a whistleblower, as well as mounting antitrust scrutiny from lawmakers and regulators. Still, as the sincerity of Zuckerberg's quest is underscored by news that the pivot might also come with a new company name, European software companies might want to start thinking about how to keep their talent in this universe.

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Murdoch's Resignation Adds To Biden Good Luck With The Media — A Repeat Of FDR?

Robert Murdoch's resignation from Fox News Corp. so soon before the next U.S. presidential elections begs the question of how directly media coverage has impacted Joe Biden as a figure, and what this new shift in power will mean for the current President.

Close up photograph of a opy of The Independent features Rupert Murdoch striking a pensive countenance as his 'News of the World' tabloid newspaper announced its last edition will run

July 7, 2011 - London, England: A copy of The Independent features Rupert Murdoch striking a pensive countenance as his 'News of the World' tabloid newspaper announced its last edition will run July 11, 2011 amid a torrid scandal involving phone hacking.

Mark Makela/ZUMA
Michael J. Socolow

Joe Biden was inaugurated as the 46th president of the United States of America on Jan. 20, 2021.

Imagine if someone could go back in time and inform him and his communications team that a few pivotal changes in the media would occur during his first three years in office.

There’s the latest news that Rubert Murdoch, 92, stepped down as the chairperson of Fox Corp. and News Corp. on Sept. 21, 2023. Since the 1980s, Murdoch, who will be replaced by his son Lachlan, has been the most powerful right-wing media executivein the U.S.

While it’s not clear whether Fox will be any tamer under Lachlan, Murdoch’s departure is likely good news for Biden, who reportedly despises the media baron.

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