Meta prepares for next round of layoffs, report says

Meta’s latest rounds of cuts could affect around 4,000 jobs, according to Vox

April 19, 2023 01:05 pm | Updated 01:54 pm IST

File photo of Meta CEO Mark Zuckerberg

File photo of Meta CEO Mark Zuckerberg | Photo Credit: REUTERS

Facebook-parent Meta is preparing to lay off more workers in an upcoming round of cuts, according to a report by Vox, citing an internal company memo.

The layoffs may begin as soon as Wednesday, and are expected to be wide-ranging, affecting employees working on Facebook, Instagram, Reality Labs, and WhatsApp. Meta has said a memo was sent to its workers but did not reveal further details about the cuts, the report added.

The social media company fired over 10,000 employees last year as Big Tech firms cut their workforce to curb costs in an uncertain economic environment. CEO Mark Zuckerberg had said earlier that the company would continue to make cuts in 2023 to reduce team size by another 10,000 people, and close roughly 5,000 open roles.

“We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. In a small number of cases, it may take through the end of the year to complete these changes,” Mr. Zuckerberg said in a blog post.

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Meta has recently shifted its areas of focus, confirming that it was winding down work on NFTs (blockchain based non-fungible tokens). On the other hand, the company has started releasing more AI features and was developing a product group for generative AI.

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