Highlights

In its earlier round of cuts, Meta slashed 11,000 workers
Meta has seen a slowdown in advertising revenue
Meta has shifted focus to a virtual-reality platform called the metaverse

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Facebook parent Meta plans fresh round of layoffs

Name: Facebook parent Meta plans fresh round of layoffs
Uploaded: 2023-03-07T12:25:06.000+05:30
Duration: T00M31S
Channel: Editorji News Desk
Description: Report: Meta has been asking directors and vice presidents to make lists of employees that can be let go

Report: Meta has been asking directors and vice presidents to make lists of employees that can be let go

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Facebook parent Meta plans fresh round of layoffs

Three months after laying off 11,000 workers in what was its first-ever major layoff, Meta, the owner of Facebook and Instagram, is planning a fresh round of layoffs this week.

According to a report by Bloomberg, the imminent round of cuts is being driven by financial targets and is separate from the “flattening,”.

Report further added that Meta has also asked directors and vice presidents to list the names of the employees that can be let go in this latest round of layoffs.

In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff in November last year.