Meta beings to layoff another 13%, or around 11,000 positions, in its second wave of layoffs. Meta which is Facebook previously is planning to layoff again. The first wave, which would mostly affect non-engineering professions, is expected to begin next week.
“More layoffs will be announced in numerous phases over the following months,” according to Meta Platforms. The layoffs will affect Reality Labs’ wearable device initiatives. As well as Meta’s hardware and Metaverse vertical, which is now losing billions of dollars.
Nevertheless, the total number of job layoffs predicted in the second quarter is not yet known. “We’re continuing to look throughout the firm, across both the Family of Apps and Reality Labs, and truly review whether we’re directing our resources towards the greatest leverage possibilities,” told Meta Chief Financial Officer Susan Li.
Founder and CEO Mark Zuckerberg said on Thursday at a Morgan Stanley conference. “I simply think we’ve reached kind of a phase transition for the firm,” Zuckerberg stated. He claimed that worldwide manpower consistently rose for over two decades, making it “extremely challenging to truly crank on efficiency while you’re growing that rapidly”.
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