According to reports, Meta, the parent company of Facebook, intends to begin massive layoffs this week. These layoffs could be the most significant in the company’s history.
The Wall Street Journal reported, citing unidentified sources, that the announcement regarding the layoffs could come as early as Wednesday and that thousands of workers are anticipated to be affected. According to a securities filing, Meta had more than 87,000 employees at the end of September.
Meta declined to comment Monday about the reported layoffs.
During the company’s third-quarter earnings call on Oct. 26, CEO Mark Zuckerberg said he expected Meta to enter 2023 with roughly the same number of employees.
According to Zuckerberg, “in 2023, we’re going to focus our investments on a small number of high priority growth areas.” We anticipate finishing 2023 with an organization that is either roughly the same size or even slightly smaller than it is now.
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