Meta, the parent company of Facebook, is set to announce companywide layoffs on Wednesday as a part of restructuring teams and works toward Mark Zuckerberg's goal of greater efficiency.
The company will cut jobs across Facebook, WhatsApp, Instagram, Reality Labs, and Quest Hardware.
The company has notified managers to prepare to announce job cuts via a memo seen by Bloomberg News. It indicates Facebook, WhatsApp, Instagram, and Reality Labs, which houses the company's virtual reality efforts, and Quest Hardware will be affected.
The layoffs are part of cost-cutting that will whittle away 10000 positions at Meta, as announced by Zuckerberg in March this year. The next round of layoffs is set to happen in May 2023.
The company has already cut nearly 13 % of its headcount i.e 11000 in November 2022. Moreover, it has frozen hiring through the first quarter.
Read the full story here - Meta Layoffs of another 10000 employees
Mark Zukerberg's comments suggest that Meta would aim to become leaner and rebalance its ratio of technologists and engineers to business and administrative employees.
The memo circulated to the managers shows that teams will be reorganized and various remaining employees will be reassigned to work under new managers.
Meta will ask all North American employees to work from home on Wednesday so they can have time to process the news of layoffs, the document said.
"We expect to announce restructuring and layoffs in our tech groups in late April and then our business groups in late May," said a company spokesperson.
