Meta, the parent company of Facebook and Instagram, has announced another round of layoffs, affecting technical employees as part of the company’s downsizing efforts (CNBC). The layoffs, which began early Wednesday morning, mark the second mass cut in recent months and are estimated to impact approximately 4,000 workers (Vox).
This latest move comes as Meta seeks to streamline its operations and implement cost-cutting measures in the tech industry slump (The Guardian). It’s part of Meta CEO Mark Zuckerberg’s aim to increase efficiency, which has already led to remote layoffs (Fortune) and a plan to cut 10,000 jobs in total (The Guardian).
Despite technical roles being considered more immune to layoffs, they have not been exempt from the downsizing measures at Meta (CNN). The layoffs are part of a larger restructuring effort that began earlier this year (The Washington Post).
Furthermore, Meta has instructed its North America-based employees to work from home as the layoffs take effect (New York Post). The move has been dubbed the “Hunger Games” by some employees, who fear for their job security (New York Post).
While the exact number of employees affected by the layoffs is currently unknown, reports suggest that a significant number of people have already been let go (KRON4). With industry analysts predicting more mass layoffs to come (TechCrunch), it remains uncertain how these changes will impact the future of Meta and its subsidiaries.
