Meta Layoffs: Facebook’s parent company Meta Platforms is preparing to lay off employees in several steps over the next few months. As per reports, several rounds of layoffs will be announced in the coming months. This time the retrenchment will be equal to the retrenchment in 2022, that is, Meta will once again cut the number of employees by 13 percent. This has been claimed in the report of The Wall Street Journal (WSJ).
The Wall Street Journal reported on Friday that the first phase of layoffs could be announced next week. The employees who are likely to lose their jobs during multiple rounds are working in Reality Labs, Hardware and Maintenance.
Last year 11 thousand employees were retrenched
Let us tell you that Meta had retrenched about 11,000 jobs last year, which was about 13 percent of the total working employees. This year also the same number of retrenchments are being talked about, although at present the clear information about the retrenchment figures has not been revealed.
Meta shares rose more than 2 percent in after-hours trading after The Wall Street Journal reported the layoffs. Let us tell you that Meta CEO Mark Zuckerberg had earlier said that 2023 will be the year of efficiency in Meta and there is a possibility of closing some projects in the company.
Explain that Amazon.com Inc., Microsoft Corp. Other technology companies including have cut thousands of jobs this year. According to Layoffs.fyi, the number of layoffs since 2022 has reached almost 3 lakh employees.
