Facebook parent company Meta plans to downsize its global workforce this week. Meta looks to follow other tech giants Twitter and Google, announcing almost a 30-50% reduction in staff. Last week, Twitter cut its workforce by 50% due to a drop in earnings.
Mark Zuckerberg’s Meta Plans “Large-Scale Layoffs”
Tech giant Meta reportedly plans “large-scale layoffs” this week, the first time in the last 18 years, reported The Wall Street Journal. Meta had over 87,000 employees until September. Among the total employees, a large part works at the Metaverse division Reality Labs. Facebook’s parent company has also invested massively in the Metaverse division.
During the Q3 2022 earnings conference call, Meta CEO Mark Zuckerberg said most teams at the company will “stay flat or shrink over the next year.” Meta plans to prioritize focus on three primary areas including the AI discovery engine, ads and business messaging platforms, and the “metaverse”. The company plans to keep
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