Meta is expected to lay off thousands of employees in another round of restructuring, according to a report from Vox. Several sources working at the company have claimed that the layoffs will take place on Wednesday as part of CEO Mark Zuckerberg’s “year of efficiency” plan.
Zuckerberg had previously announced that the company would cut 10,000 jobs, mainly related to low-priority projects, in the coming months. This comes after 11,000 jobs were cut in November last year. The latest round of layoffs is expected to affect tech departments, while another round planned for May will impact the business side.
Some experts speculate that several projects and teams within the Facebook app and Reality Labs, the unit dedicated to augmented and virtual reality experiences, will see job cuts soon. However, those working on developing games may be safe for now as Meta focuses on marketing its metaverse gamble to traditional gamers.
The metaverse is a virtual world that serves as a place for social interactions, work, and e-commerce. Meta has poured billions of dollars into its social VR platform Horizon Worlds, but it has failed to take off, with only about 200,000 monthly active users at the end of last year.
The latest round of layoffs is expected to be in the range of 4,000 jobs, according to one source cited in the Vox report. The company has not confirmed the news, but it wouldn’t come as a surprise, given Zuckerberg’s recent comments about the need to streamline the company’s operations.
The layoffs come as Meta faces increased scrutiny from regulators and lawmakers over its market dominance and handling of user data. The company has also been under fire for its role in spreading misinformation and hate speech on its platform. The restructuring is likely an attempt to address some of these issues while also positioning Meta for growth in the future.
