24th February 2024 11:11 am
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Meta reportedly preparing for another round of layoffs

  • In November last year, Meta announced that it would be letting 11 000 of its workers go.
  • Now a new report suggests further cuts are in the works.
  • No confirmation has come from Meta yet, but the losses are expected to take place next month.

The culling of jobs in big tech firms is far from over. This as a report by The Financial Times (paywall) says Meta is planning to do another round in the coming weeks.

The company, which owns Facebook, Instagram and WhatsApp, announced mass layoffs in November of last year, with an estimated 11 000 employees being let go from the company. While they all received exit packages, the loss has had an impact on Meta’s bottom line too, as evidenced by its most recent quarterly report.

Now more cuts are on the way if the aforementioned report is to be believed. At the time of writing, Meta has not commented on the rumours, despite being asked by publications like TechCrunch regarding the matter.

The silence, therefore, is quite telling. The rumoured round of layoffs is said to be happening in March, although a more definitive date has not been shared by those with insider knowledge on the subject.

Either way, Meta is not the only big tech firm to carry out multiple waves of mass layoffs, with Amazon having done the same recently. For now though, it is unclear how many employees are being eyed for this latest round of layoffs, nor is it clear which parts of the company’s business will be affected by the job cuts.

Despite all of this, however, it looks like CEO Mark Zuckerberg is pushing ahead with his metaverse plan, regardless of how much money it haemorrhages.

[Source – The Financial Times]
[Image – Photo by Dima Solomin on Unsplash]

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