As a part of the company’s effort toward resizing, Meta announced it will initiate comprehensive layoffs on Wednesday. The decision is said to be part of Mark Zuckerberg’s objective of enhancing efficiency.
In an internal memo to employees, the parent company of Facebook instructed its managers to be ready to announce job cuts on Wednesday, according to Bloomberg. Reportedly, the tech giant is aiming to reduce more of its operational cost and therefore, Facebook, WhatsApp, Instagram, and Reality Labs, which houses the company’s virtual reality efforts and Quest hardware, will be affected.
In the second round of layoffs the company is expected to terminate many positions and roles specifically from the technical department, confirmed CNBC.
In March of this year, CEO Mark Zuckerberg announced that Meta would lay off another 10,000 workers in the following months, following the 11,000 layoffs (13 per cent of the company’s workforce) that occurred in November 2022. Following the layoff decision, it also extended its hiring freeze through the first quarter, as other Silicon Valley businesses also implemented job and cost cuts. The founder of Meta also stated that the company wants to downsize its staff and become more streamlined by restructuring its ratio of technologists and engineers to business and administrative staff.
Additionally, in its second significant round of job cuts in the last six months, the company also eliminated approximately 5,000 unfilled positions.
