Meta Plans Further Employee Layoffs Over Coming Months
Meta Corporation is expected to announce further employee layoffs over the coming months. This news was reported by the Wall Street Journal, citing sources, and could be on par with the 11,000 person (13% of the workforce) cut announced in November 2022.
The first wave of the new layoffs is expected to be reported next week, with teams and projects associated with the metaverse-centric division of Reality Labs potentially being shut down.
Mark Zuckerberg, the CEO of the company, has accepted responsibility for the last series of layoffs and declared 2023 as “the year of performance” during an investor chat in February.
Aside from Meta Corporation, other companies such as Microsoft, PayPal, Coinbase, ConsenSys, Genesis Trading, Blockchain.com, Gemini, Luno, Matrixport, Chainalysis, Bittrex, and Messari have already laid off a collective 10,000 people since the beginning of the year.
