According to recent reports, the parent company of Facebook, Meta, intends to carry out additional layoffs in the weeks ahead. The work being done at the software behemoth has reportedly slowed down to a crawl while it designs a new round of job cuts, as reported by the Financial Times.
It is expected that Meta will make the announcement of the restructure when it has finished conducting performance appraisals of its workers sometime in the month of March. In November, the corporation fired 11,000 workers, which is equivalent to nearly 13 percent of its staff around the world.
These layoffs were the most severe in the nearly 20 years that Meta has been in business, and they affected every department and division in the company. Engadget’s request for a comment from Meta was not immediately met with a response. The possible scope of the restructure was not discussed in any article published by the Times.
Although Meta is far from being the only company to have reduced its workforce in the past year, a substantially smaller number of businesses have increased layoffs that were previously reported.
If the information that was reported by The Times is correct, then Meta would be in the same company as companies like as Amazon and Coinbase. The former company initially said that it planned to decrease its workforce by 10,000 workers, but then revealed that it would be eliminating closer to 18,000 positions.
Before the month of November, Mark Zuckerberg, the CEO of Meta, had indicated to analysts that the business might become “a significantly smaller organisation” by the year 2023.
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