Meta, formerly known as Facebook, has started its latest round of layoffs, according to multiple reports (CNBC). The layoffs focus on technical roles, and are part of Meta’s larger downsizing and restructuring plan, in which the company announced it would cut 10,000 jobs (BBC). The social media giant has started notifying some of the affected employees who are losing their jobs in this wave of layoffs, and this includes technical workers who are usually considered more immune to job cuts (CNN).
On Wednesday, Meta has begun the process of letting go of the first wave of roughly 10,000 jobs, according to a company confirmation (Engadget). The tech firm has also started to hand out a new round of pink slips, which are part of a months-long downsizing and restructuring plan (The Washington Post). It has been reported that Meta has already notified some employees of layoffs in the second recent round of cuts (Vox), with The Guardian reporting that the social media giant is immediately cutting 4,000 jobs as part of the larger plan to cut 10,000 jobs amid a tech industry slump.
This latest round of layoffs marks the continuation of CEO Mark Zuckerberg’s year of efficiency as he joins McDonald’s and Google in laying off thousands in the metaverse (Fortune). TechCrunch has also reported that another round of mass layoffs is expected at Meta this week. The company has been announcing job cuts for the past few months, and it plans to reduce its workforce by approximately 13% (The New York Times).
In conclusion, Meta’s latest round of layoffs are aimed at technical workers, and are part of the company’s larger plan to downsize and restructure. The company has already begun to notify affected employees, and the cuts come amid a widespread tech industry slump. Meta has been announcing job cuts for the past few months, with plans to reduce its workforce by approximately 13%.
