Facebook- parent Meta is reportedly planning to lay off more workers in an upcoming round of cuts. The layoffs may begin as soon as and are expected to impact a wide range of employees across Facebook, Instagram, Reality Labs, and WhatsApp, according to a report by Vox, citing an internal company memo.
Although the memo has been sent to workers, Meta has not provided further details about the cuts. However, it is known that the company has been making efforts to reduce its workforce to cut costs in an uncertain economic environment. In fact, the social media giant fired over 10,000 employees last year as part of a wider Big Tech trend.
The company’s CEO, Mark Zuckerberg, had already announced plans to reduce the team size by another 10,000 people and close around 5,000 open roles in 2023. He mentioned in a blog post, “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.”
Meta has recently shifted its focus away from NFTs and towards more AI features, with the development of a product group for generative AI. The company has not yet commented on the upcoming round of layoffs, but it is expected that the move will have a significant impact on its workforce.