Only a few months back in November 2022, Meta sacked roughly 11,000 employees from its global workforce. Firing 13 per cent of its global workforce made Meta the company to fire the most employees in 2022 followed by Twitter which sacked 5,000 of its workforce. Now, nearly just four months after the massive layoffs, Meta is gearing up to lay off thousands of employees soon.
Meta layoffs
Meta, the parent company of Facebook, WhatsApp, and Instagram is planning to lay off thousands of its employees soon as reported by The Washington Post. The new set of layoffs is said to disproportionately impact non-engineering roles. it is also reported that CEO Mark Zuckerberg is currently deputising lawyers, financial experts, top executives and human resources employees to draw up plans to deflate the hierarchy within the company. Back in November 2022, Meta cited that overhiring and poor macroeconomic conditions were the reason behind the mass layoff. It will be interesting to see what reason is cited by the tech giant for the fresh round of layoffs.
It is expected that Meta will be citing a similar reason for the layoffs and additional mitigating costs amid falling revenue will also be one of the reasons for the layoffs. The reports reveal furthermore that Meta is considering rather traditional spending cuts by slashing some projects. These cuts will be targeted at divisions across the company and will happen gradually.
As per reports, the development about the upcoming layoffs comes days after it was reported that the company purposely gave ‘subpar ratings’ to thousands of employees during their performance review. On the other hand, Meta seems to be desperately trying to increase revenues with its verified subscription plans.