Meta layoff: WhatsApp, Instagram, Facebook to begin final and last round of job cuts
Meta layoff: Meta Platforms Inc started carrying out the last batch of a three-part round of layoffs on Wednesday, as part of a plan announced in March to eliminate 10,000 roles.
FollowMeta Platforms Inc started carrying out the last batch of a three-part round of layoffs on Wednesday, according to a source familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles. This is the second round of layoffs after the tech firm laid off around 11,000 employees in November 2022. The fresh round of layoffs has decreased the company's number of employees to a level similar to that of around mid-2021, after a period of extensive recruitment that resulted in the doubling of its workforce since 2020.
This round of layoffs is anticipated to have a significant impact on the ad sales, marketing, and partnerships departments. The impacted employees shared the news on LinkedIn.
The majority of the company's second round layoffs, according to Meta CEO Mark Zuckerberg, will take place over the course of three discrete phases spread over many months, with the process mostly coming to an end in May. He also suggested that smaller waves of layoffs may still occur beyond that period.
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The overall impact of these cuts was mostly seen in non-engineering professions, emphasising the value of those working in programming and coding at Meta. To achieve a more ideal balance between the number of engineers and personnel in other areas, Zuckerberg promised to drastically reorganise the company's business teams in March.
A slowdown in revenue growth over several months, caused by both high inflation and a decrease in digital advertising because of the waning effects of the pandemic-driven e-commerce rush were among the causes that led Meta to make the choice to impose layoffs.
Additionally, Meta has been making large investments on the creation of the metaverse through its Reality Labs business, amounting to billions of dollars. But in 2022, this division suffered a large loss of $13.7 billion. Additionally, Meta has been working on a project to improve its infrastructure so that efforts using artificial intelligence may be supported successfully.
