Round two of layoffs is about to take place at Meta, the parent company of well-known social media juggernauts, including Facebook and Instagram. A recent story states that Meta would let off thousands of workers as soon as this week.
According to a report by Bloomberg, many Meta employees will lose their jobs this week. Meta reportedly requested a list of the individuals who may be let go during this round of layoffs from directors and vice presidents. Meta has not formally confirmed the change.
After a round of layoffs late last year, this will be the second. In the initial phase, the corporation let go of 11,000 workers or 13% of the overall staff.
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2023 has been designated as the Meta’s “year of efficiency” by CEO Mark Zuckerberg. A recent performance review of the staff by the corporation may have served as a prelude to the second round of layoffs.
When Meta announced its first wave of layoffs in November, Mark Zuckerberg held a video chat with staff members and accepted full responsibility for the job losses. Massive wagers made by Meta in the Metaverse sector have likewise failed to yield returns on their investments.
