Meta Plans : Lay Off
The world’s largest social media company is cutting other jobs, in addition to a 13% cut in November. Meta Platforms Inc, the owner of Facebook and Instagram, is planning another layoff and will lay off thousands of employees starting this week, according to people familiar with the matter.
The world’s largest social media company is cutting other jobs, in addition to a 13% cut in November, in an effort to become a more efficient company. In its first cut, Meta cut 11,000 workers in its first layoffs.
The company is also trying to streamline its organization, giving managers buyout packages and cutting teams it deems unnecessary, Bloomberg News reported in February, a move that is still pending. Completion and may affect thousands of users. The upcoming reduction is driven by financial goals and is different from “support”, people refuse to recognize it when discussing the content. Meta, which has seen ad revenue shrink and is focused on a virtual reality platform called Metaverse, has asked executives and CEOs to come up with a list of employees who could be fired, the people said. A Meta spokesman declined to comment on the proposal on Monday. The layoff process could be completed next week, the people said. Those working on the plan hope to have it ready before CEO Mark Zuckerberg goes on parental leave for his third child, which could be imminent, one person said.
The November cuts came as a surprise, but Meta officials expected another round of layoffs. Zuckerberg called 2023 the Meta’s “year of performance,” and the company told employees that theme during a performance review, which was completed last week, the people said.
Employees at the Menlo Park, Calif. office. recently describing high anxiety and low mood among colleagues. Some workers are worried about whether they will receive their wages, which will be distributed this month, if they lose their jobs first, the people said.
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