Highlights

  • In its earlier round of cuts, Meta slashed 11,000 workers
  • Meta has seen a slowdown in advertising revenue
  • Meta has shifted focus to a virtual-reality platform called the metaverse

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Facebook parent Meta plans fresh round of layoffs

Report: Meta has been asking directors and vice presidents to make lists of employees that can be let go

Facebook parent Meta plans fresh round of layoffs

Three months after laying off 11,000 workers in what was its first-ever major layoff, Meta, the owner of Facebook and Instagram, is planning a fresh round of layoffs this week.

According to a report by Bloomberg, the imminent round of cuts is being driven by financial targets and is separate from the “flattening,”.

Report further added that Meta has also asked directors and vice presidents to list the names of the employees that can be let go in this latest round of layoffs.

In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff in November last year.

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