Meta Platforms is set for another round of layoffs, reported Reuters, citing people familiar with the matter on Wednesday. As per the report, this new round of layoffs could impact 20 per cent or more of the company’s workforce.
Earlier in March, it was reported that the top executives at Meta had signaled plans to other senior leaders, asking them to start planning how to pare back.
As per the The Information, which was first to report the layoffs, the layoffs on Wednesday were on a smaller scale and impacted mainly Meta’s Reality Labs division, social media teams and recruiting operations.
Business Insider reported earlier this week that the Human Resources team sent out emails to employees in the wearables and ad divisions, asking employees to work remotely.
Meanwhile, in a CNBC report, job cuts are expected across several units of Meta which include the team at Facebook, global operations, recruiting and sales.
“Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals. Where possible, we are finding other opportunities for employees whose positions may be impacted,” a Meta spokesperson said in a statement, as per Reuters.
This round of layoffs from the Facebook parent company comes amid its refocus towards artificial intelligence as part of the competition with OpenAI, Anthropic and Google.
In January, Meta laid off employees from the Reality Labs division and also shut down a number of studios working on VR titles, reported CNBC. This round of layoff impact over 1,000 jobs and 10 per cent of the unit.
(With inputs from Reuters)
