Soon, there might be a lot more Meta employees cleaning up their desks. According to unnamed sources familiar with the situation, Bloomberg reported early on Tuesday that Meta intends to fire “thousands” of workers, and the first round of workforce reductions may be completed this week.
Even while there have been rumors of additional layoffs at the Mark Zuckerberg-founded business for a few weeks, it has only been four months since Meta fired 11,000 employees, or 13% of its global workforce. After the firm experienced losses at its subsidiary focused on the “metaverse,” Reality Labs, and saw a decline in its advertising empire, CEO Zuckerberg touted 2023 as the “year of efficiency” for his company.
According to the unnamed sources cited by Bloomberg, the company is once again focusing on its metaverse objectives despite this current round of cuts being motivated by dwindling advertising revenues. This is ostensibly an effort to assist the business in achieving specific financial goals for 2023. The business reportedly invited vice presidents and team directors from several departments to compile a list of candidates for the cut.
In preparation for the birth of his third kid with his wife Priscilla Chan, Zuckerberg anticipates taking a parental leave. Prior to the big boss taking his leave of absence, it is reportedly the goal to have the layoffs prepared and ready to go.
The company’s Menlo Park headquarters and other locations are allegedly flattened in addition to these alleged layoffs. Earlier stories described how Meta is pressuring middle managers of small teams to either make them do more manual labor or quit the business.