According to a few people working in Meta, the social media giant is planning to lay off over 11,000 employees this week. The layoffs are part of a larger reorganisation at Meta, which CEO Mark Zuckerberg has nicknamed the “year of efficiency.”
Meta, previously known as Facebook, is set to announce another massive round of layoffs this week, according to a Vox story, which cites “several sources working at the company.”
The layoffs are part of a larger reorganisation at Meta, which CEO Mark Zuckerberg has nicknamed the “year of efficiency.” In March, Zuckerberg said that the business will reduce 10,000 workers in the following months, focusing on “low-priority projects.” This is in addition to the 11,000 job cuts announced in November.
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According to one source, this week’s layoffs might total 4,000 workers. TechCrunch was unable to corroborate the report, although it is not surprising. Zuckerberg previously stated that layoffs in tech departments will occur in April, with another round of layoffs scheduled for May.
Many projects and teams within the Facebook app and Reality Labs, the organisation dedicated to augmented and virtual reality experiences, have been said to be on the chopping block. Those working on game development, however, may be safe for the time being as Meta tries to promote its metaverse gamble to traditional players, according to a Business Insider story.
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That might represent a strategic shift for Meta and Zuckerberg, who have both marketed the metaverse as a location for social connections, employment, and e-commerce. Horizon Worlds, Meta’s social VR platform, has received billions of dollars in investment. Horizon Worlds, on the other hand, has not taken off, with just roughly 200,000 monthly active users at the end of last year.
Although Meta is not the only company that has announced layoffs this year, it is one of the few that has escalated its previous layoffs. For example, after first declaring that it would lay off 10,000 people, Amazon boosted that figure to 18,000.
Marne Levine, Meta’s chief commercial officer, recently announced her departure from the social media company after 13 years in the role. Before joining Meta, Levine was the original chief operating officer of Instagram and the vice president of global public policy at Facebook. According to Meta, Justin Osofsky and Nicola Mendelsohn will take on more duties as senior sales and relationship executives in the future.
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