The world’s largest social networking company is eliminating more jobs, on top of a 13% reduction in November, in a bid to become a more efficient organization. In its earlier round of cuts, Meta s…
By Sarah Frier, Ed Ludlow and Kurt Wagner | Bloomberg
The world’s largest social networking company is eliminating more jobs, on top of a 13% reduction in November, in a bid to become a more efficient organization. In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff.
The imminent round of cuts is being driven by financial targets and is separate from the “flattening,” said the people, who asked not to be identified discussing internal matters. Meta, which has seen a slowdown in advertising revenue and has shifted focus to a virtual-reality platform called the metaverse, has been asking directors and vice presidents to make lists of employees that can be let go, the people said.
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