Meta, formerly known as Facebook, has announced yet another round of layoffs as part of its cost-cutting measures (CNBC). The company has already started saying goodbye to some of its technical employees last month, and has now initiated the second round of mass cuts (Vox). Meta started notifying its laid-off employees on Wednesday morning (NDTV.com). This time, the job cuts have hit engineers and adjacent tech teams (Engadget). Reports indicate that the latest round of layoff will affect thousands of employees, with 4,000 jobs to be culled immediately and up to 10,000 jobs to be cut in total (The Guardian). Meta’s employees are reportedly angered by the latest round of layoffs, with one employee asking “Why Should We Stay?” (NDTV.com).
Meta has confirmed the layoffs to TechCrunch, with sources saying that technical workers are among those primarily affected by the layoffs (TechCrunch). This seems to be in line with Meta’s past behavior, as technical workers are often thought to be more immune to layoffs than other employees (CNN). According to The Washington Post, the company has begun targeting its technical staff for layoffs as part of a months-long downsizing and restructuring.
The social media giant has been struggling amid a tech industry slump, and has been implementing cost-cutting measures, including job cuts, to help shore up its finances. In fact, Meta announced last month that it plans to lay off about 10,000 employees, or roughly 13% of its workforce (The New York Times).
Despite the company’s struggles, Meta remains one of the biggest players in the social media industry, with Facebook and Instagram among its most popular platforms. However, the latest round of layoffs is expected to have a significant impact on the company’s operations. As the job cuts continue, Meta’s employees and investors will be watching closely to see how the company fares in the coming months.
