Meta is Reportedly Plans More Job Cuts Next Month
Many tech giants have already cut down jobs for thousands of employees including Meta. Now, Facebook’s parent company Meta is reportedly planning more job cuts in its headcount in the coming weeks. According to the latest reports, Meta is likely to announce the restructuring after it has completed staff performance reviews sometime in March.
Meta Reportedly Plans More Job Cuts Next Month
The report was revealed by the Financial Times. In November, the company laid off 11,000 employees or about 13 per cent of its global workforce. Those cuts were the largest in Meta’s nearly 20-year history, affecting every organization within the company. Meta did not reveal any information about the job cut.
But Meta isn’t the only company making cuts right now. The Federal Reserve continues to raise interest rates in a bid to fight inflation and throw people out of work. Amazon-owned Zappos laid off about 300 people last month and Microsoft announced a fresh round of layoffs on Thursday, as a host of other companies in the tech sector cut staff.
Last year, Meta first outlined plans to reduce its headcount by 10,000 employees only to later announce it was cutting closer to 18,000 jobs. Before November, Meta CEO Mark Zuckerberg told analysts the company could become “a slightly smaller organization” by the end of 2023.
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