New York: Meta Platforms Inc. is set to commence companywide layoffs today as it restructures teams and works towards its founder, Marc Zuckerberg goal of greater efficiency. As the Facebook parent company has notified its managers to prepare for an announcement on job cuts, it is also anticipated that Facebook, WhatsApp, Instagram, and Reality Labs will also be impacted.
In an internal memo posted by Meta employee message board late Tuesday evening (GMT), the cuts could be in the range of 4000 jobs. “This will be a difficult time as we say goodbye to friends and colleagues who have contributed to so much to Meta”, Lori Goler, Meta’s head of people said in memo.
The move is a part of a cost-cutting push that will eventually whittle away over 10,000 positions at the company. As per the announcements made by Zuckerberg in March, a further round of cuts is also anticipated in May 2023.
Already Meta has cut about 13 per cent of its workforce or about 11000 jobs in November. It also extended a hiring freeze through the first quarter, which has been punctuated by job and cost cuts by other Silicon Valley businesses.