More job cuts planned by Facebook parent Meta in coming months
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Facebook-parent Meta Platforms is preparing additional layoffs that will be revealed in phases over the coming months and could equal the 13% job reduction total from last year, the Wall Street Journal reported on Friday.
Meta was the first Big Tech company to declare a second round of mass layoffs after terminating 11,000 employees four months ago, Reuters reported.
According to the report, the non-engineering roles will likely be hit the hardest by the first wave of the new cuts, which will be revealed next week.
“We’re continuing to look across the company, across both Family of Apps and Reality Labs, and really evaluate we are deploying our resources toward the highest leverage opportunities.This is going to result in us making some tough decisions to wind down projects in some places, to shift resources away from some teams,” Meta Chief Financial Officer Susan Li said Thursday at the Morgan Stanley 2023 Technology, Media & Telecom Conference.
Along with these cuts, the company is also anticipated to end some projects and teams, according to the report.
A request for comment was not quickly answered by Meta.