Sources within the company have reported that Meta intends to terminate approximately 4,000 employees from its various entities this week, with a particular focus on those working in technical departments.
It appears that Meta, the parent company of Facebook, is planning additional layoffs. The next round of job cuts is anticipated to occur this week, and approximately 4,000 positions may be eliminated as a result.
Vox, citing various insiders at Meta and an internal memo obtained by the website, has reported that a difficult time awaits the company’s employees, as they prepare to say farewell to their colleagues and friends who have contributed significantly to the organization. According to the memo, Lori Goler, Meta’s head of people, acknowledged the challenging situation.
The majority of the affected employees are believed to be from Facebook’s technical teams, Reality Labs, Instagram, and Whatsapp. Those impacted are expected to receive notice of their employment status on Wednesday morning, according to sources.
As per the memo, employees who have the option to work from home offices are advised to do so on Wednesday. This measure is intended to provide sufficient space for the affected employees to come to terms with the unfortunate news.
Not the first wave of redundancies
This is not the first time that Meta has undergone a significant wave of layoffs. In March of this year, CEO Mark Zuckerberg disclosed that the company would lay off an additional 10,000 employees. Before that, in November, approximately 11,000 employees had already been asked to leave.
According to Vox, all of these layoffs are part of the “Year of Efficiency” that Mark Zuckerberg has declared for 2023. Meta and other tech giants have experienced significant declines in revenue as a result of factors such as rising interest rates and high inflation. As a result, Meta is striving to become more efficient, with cost reduction being a top priority.
In a Facebook post last month, Zuckerberg stated, “Over the next few months, organizational leaders will unveil restructuring plans designed to unify our organizations, terminate lower-priority projects, and reduce our hiring rates.”