Tech firm Meta is reportedly cutting thousands of jobs, for the second time in a matter of months.
(Source: Unsplash via Dima Solomin)Meta- the owner of Facebook and Instagram, is planning a fresh round of layoffs and will cut thousands of employees as soon as this week, according to people familiar with the matter.
It follows a turbulent year for the tech firm, with boss Mark Zuckerberg spending billions on their Metaverse project.
This latest job loss claim is from Bloomberg and it understands the official announcement could be made sometime this week.
The social networking company is eliminating more jobs, on top of a 13% reduction in November, in a bid to become a more efficient organisation.
In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff.
The layoffs included 350 workers in Ireland.
The November cuts were a surprise, but another round of firings has been widely anticipated by the Meta workforce.
Zuckerberg has dubbed 2023 Meta’s “year of efficiency,” and the company has been communicating that theme to employees during performance reviews, which were completed last week, the people said.
Workers at the Menlo Park, California-based company described heightened anxiety and low morale among colleagues lately.
Some employees expressed worry about whether they’d receive their bonuses, which are set to be distributed this month, if they lose their jobs beforehand, the people said.
