Meta planning thousands of more cuts after widespread layoffs, report says
Summary
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. Meta plans another round of layoffs that could affect thousands of workers, according to a Bloomberg News report published Monday evening. The job cuts could start this week and represent an additional round of layoffs, adding to the 13% of Meta workers who were laid off as part of a major cost-cutting plan announced in November. He told analysts in February that Meta is focused on "cutting projects that arent performing or may no longer be crucial" and that it plans on "removing layers of middle management to make decisions faster." Meanwhile, the company continues to heavily invest in developing the metaverse, which Meta believes could represent the next frontier for mainstream computing.
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