Meta (formerly Facebook) is reportedly going to start laying off more employees next week in its third round of job cuts. The layoffs will affect Meta’s business departments and could affect thousands of employees, reports Vox.
“The third wave is going to happen next week. That affects everybody in the biz teams, including in my orgs,” Meta president of global affairs Nick Clegg, was quoted as saying. However, the exact number has not been confirmed, but it is expected that the company will lay off approximately 6,000 employees in this round.
In March, Meta CEO Mark Zuckerberg announced that the company planned to cut 10,000 jobs by the end of May, following an 11,000-job cut in November last year. The tech giant cut around 4,000 of the planned 10,000 positions last month, leaving nearly 6,000 positions potentially on the chopping block. At the end of 2022, Meta had around 86,000 employees, the report said.
The ongoing layoffs at Meta are part of Zuckerberg’s plans for a “year of efficiency” in 2023. In April, Meta almost wiped out its team dedicated to combating misinformation. According to ‘Command Line’ by The Verge’s Alex Heath, the majority of the team responsible for combating fake news across Facebook and Instagram has been sacked. “The team size was about 50 people,” the report said.
Besides Meta, other big and small firms have reduced their workforce over the past few months to absorb the impact caused by economic headwinds. Companies such as Google parent Alphabet, Microsoft, Amazon, Snap, and Spotify have announced layoffs previously. Although Apple and a few other companies have not announced any such measures yet.