Meta, the parent company of social media giant Facebook, is reportedly planning to reduce its headcount further in the coming weeks. An official announcement regarding the restructuring is expected to be made as early as next month, following the completion of staff performance reviews in March.
Sources indicate that work at Meta has slowed down as the company prepares for the job cuts. In November 2022, Meta laid off 11,000 employees, or approximately 13% of its global workforce, which was the largest layoff in the company’s nearly 20-year history.
The scale of the restructuring is currently unknown, however, it is worth noting that Meta is not the only company to have cut staff in the past year. In fact, significantly fewer companies have expanded previously announced layoffs. If the reports are accurate, Meta would join the ranks of companies such as Amazon and Coinbase. Amazon initially outlined plans to reduce its headcount by 10,000 employees, only to later announce a reduction of closer to 18,000 jobs.
Before the November 2022 layoffs, Meta CEO Mark Zuckerberg had stated that the company could become a “slightly smaller organization” by the end of 2023. It remains to be seen how the potential upcoming restructuring will impact Meta and its employees.
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