Facebook Parent Meta to Make Massive Layoffs, Could Be Bigger Than Twitter’s Cuts, Report Says
Facebook’s parent company, Meta, is reportedly planning to start making wide-scale layoffs this week in what could be the largest the industry has seen in a very long time.
The Wall Street Journal reported that the company informed employees to cancel travel plans this week as the layoffs are expected to begin as soon as Wednesday.
The number of Meta’s 87,000 employees that are expected to be laid off could be greater than the roughy 3,700 employees who were let go last week at Twitter by the company’s new CEO Elon Musk, the report said, adding that this would be the first time that the company has made large-scale layoffs in its nearly two decade history.
The report said that the company was planning to cut expenses by “at least 10% in the coming months, in part through staff reductions.”
CEO Mark Zuckerberg told employees over the summer, “Realistically, there are probably a bunch of people at the company who shouldn’t be here.” (Read more from “Facebook Parent Meta to Make Massive Layoffs, Could Be Bigger Than Twitter’s Cuts, Report Says” HERE)
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