As part of its “year of efficiency” reorganization strategy, Meta has confirmed a second wave of mass layoffs.
According to reports, the layoffs this week might effect roughly 4,000 employees, in addition to the 11,000 posts lost in November 2022. CEO Mark Zuckerberg previously revealed intentions to reduce an additional 10,000 positions in March 2023, beginning with tech functions and progressing to business roles in May.
The latest round of layoffs are expected to affect a range of technical teams, including those working on Facebook, Instagram, Reality Labs, and WhatsApp. Those developing games might be safe for now as Meta focuses on marketing its metaverse platform to traditional gamers. This strategic pivot is part of Meta’s plan to position the metaverse as a place for social interactions, work, and e-commerce.
The layoffs at Meta are part of a broader economic downturn in Silicon Valley that has seen many major tech companies issue rounds of layoffs.
The most recent wave of layoffs is likely to affect a variety of technical teams, including those on Facebook, Instagram, Reality Labs, and WhatsApp. Those who create games may be safe for the time being, as Meta concentrates on selling its metaverse platform to conventional players.
The cutbacks at Meta are part of a larger economic crisis in Silicon Valley, which has resulted in rounds of layoffs at numerous prominent software businesses.
In the last year, Meta laid off 13 per cent of its workforce, or around 11,000 individuals, and it’s still hinting that some cuts may not be completed until the end of the year.
The sources for this piece include an article in TechCrunch.