Many tech giants have already cut jobs for thousands of employees, including Meta. Now, Facebook’s parent company Meta is reportedly planning more job cuts in the coming weeks. According to the latest reports, Meta is likely to announce the restructuring after it completes staff performance reviews sometime in March.
Meta is reportedly planning more job cuts next month
Also check: Islamabad United enters the Metaverse and offers fans unprecedented experiences with free Digital Collectible Cards
This is reported by the Financial Times. In November, the company laid off 11,000 employees or about 13 percent of its global workforce. Those cuts were the largest in Meta’s nearly 20-year history and affected every organization within the company. Meta has not released any information about job cuts.
But Meta isn’t the only company currently cutting costs. The Federal Reserve continues to raise interest rates to fight inflation and put people out of work. Amazon-owned Zappos laid off about 300 people last month and Microsoft announced another round of layoffs on Thursday, while numerous other companies in the tech sector were cutting staff.
Last year, Meta first outlined plans to cut its workforce by 10,000 employees, only to later announce it would cut nearly 18,000 jobs. For November, Meta CEO Mark Zuckerberg told analysts that the company could become “a slightly smaller organization” by the end of 2023.
Also see: Meta will soon revamp Horizon Worlds for a younger audience