2nd Wave Of Layoffs in Meta
Meta, the parent company of Facebook, Instagram and WhatsApp, is set to announce a series of new layoffs that will soon affect thousands of employees.
The world’s largest social networking company laid off 13 percent of its employees in November in line with its goal of being more efficient.
Speaking in February, sources close to the subject stated that the company, which laid off 11 thousand people in the first major layoff, included a “horizontal” target among its targets. Sources stated that executives were given incentives and all teams not deemed necessary by the company were fired.
According to Bloomberg’s report, it is stated that the new layoffs serve financial goals and this move is not about “horizontalization”.
Seeing a slowdown in ad revenue and focusing on virtual reality platform Metaverse, Meta asks the general manager and assistants to make a list of employees who could be fired. This phase of layoffs could be completed within the next week.
Mark Zuckerberg called 2023 Meta’s “productivity year,” and conveyed this theme to his employees in the company’s performance reviews, which was completed last week.