Meta to cut jobs again next week
Bernama
May 19, 2023 19:15 MYT
May 19, 2023 19:15 MYT
US-based tech company Meta will begin another round of layoffs next week, following previous job cuts in recent months and general uncertainty about the company's future, Sputnik quoted Vox report on Friday. Pic for illustration purposes by REUTERS
WASHINGTON: US-based tech company Meta will begin another round of layoffs next week, following previous job cuts in recent months and general uncertainty about the company's future, Sputnik quoted Vox report on Friday.
"The third wave is going to happen next week," Meta president of Global Affairs, Nick Clegg, reportedly said during a company-wide meeting on Thursday.
"It's just a time of great anxiety and uncertainty."
In March, Meta chief Mark Zuckerberg announced expected layoffs in late April and May. Meta expects to reduce its team size by approximately 10,000 people, in addition to closing 5,000 unfilled positions, Zuckerberg said.
The upcoming layoffs will proceed similarly to those in April, during which 4,000 jobs were cut, Clegg said during the meeting. However, the exact scope of the new cuts is not known, the report said.
The layoffs are part of a "Year of Efficiency" for Meta announced by Zuckerberg. The initiative is aimed at improving financial performance to execute the company's long-term vision, he said.
Meta products include social media platforms Facebook and Instagram, as well as messaging app WhatsApp.
-- Bernama