Meta To Layoff Another 4,000 Employees In Second Round Of Layoffs
New Delhi, 19th April 2023: According to sources cited by Vox, Meta Platform Inc., formerly known as Facebook, is planning a second round of mass layoffs that will affect at least 4,000 employees.
Bloomberg News said that the corporation informed managers via a memo to get ready to announce job cuts today (April 19). According to the article, Facebook, Instagram, WhatsApp, and Reality Labs, which houses the company’s virtual reality initiatives and Quest hardware, might all experience layoffs.
The Washington Post reported that Meta will also disclose newly reorganized teams and management hierarchy. The business also intends to ask North American employees who have remote work options to start doing so.
According to Mark Zuckerberg, CEO of Meta, this is a part of the cost-cutting initiative that would result in the tech business laying off close to 10,000 employees. A third round of layoffs will occur in May.
Overall, according to Zuckerberg, “We expect to close about 5,000 additional open roles that we haven’t yet hired and
reduce our team size by around 10,000 people.”
The new layoffs occurred only four months after he fired 11,000 workers, i.e. 13% of the corporation, in November of last year. Along with further job and cost reductions in the first quarter, the corporation also suspended hiring.
