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Another round of mass layoffs expected at Meta this week

Meta, formerly Facebook, is expected to issue another round of mass layoffs Wednesday, according to a report from Vox that cites “several sources working at the company.”

The layoffs are part of a broader restructuring at Meta that CEO Mark Zuckerberg has dubbed the “year of efficiency.” In March, Zuckerberg said the company would cut 10,000 jobs in the coming months, particularly ones related to “low priority projects.” This is on top of the 11,000 jobs that were cut in November.

This week’s layoffs could be in the range of 4,000 jobs, one source told Vox. TechCrunch was unable to confirm the news, but it’s not unexpected. Zuckerberg had previously said April cuts would affect roles in tech departments, while another round of layoffs planned for May will hit the business side.

Some have speculated that many projects and teams within the Facebook app and Reality Labs, the unit dedicated to augmented and virtual reality experiences, will see the axe soon. However, those working on developing games might be safe for now as Meta works to market its metaverse gamble to traditional gamers, according to a report from Business Insider.

That could be a strategic pivot for Meta and Zuckerberg, both of which have promoted the metaverse as a place for social interactions, work and e-commerce. Meta poured billions into its social VR platform Horizon Worlds. However, Horizon Worlds hasn’t really taken off, with only about 200,000 monthly active users at the end of last year.

Meta opens up its social VR space Horizon Worlds to teens

Another round of mass layoffs expected at Meta this week by Rebecca Bellan originally published on TechCrunch



source https://techcrunch.com/2023/04/18/another-round-of-mass-layoffs-expected-at-meta-this-week/

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