Meta Layoffs 2023: Facebook’s parent company Meta Layoffs is once again going to lay off employees on a large scale. According to Bloomberg’s report, Meta Platforms has ordered the manager to work on layoffs on Wednesday. Meta Founder and CEO Mark Zuckerberg recently said that Meta Layoffs is trying to reduce its expenses.
Layoffs will be announced today
According to Bloomberg’s report, Facebook’s parent company Meta has asked its managers to announce layoffs on Wednesday. In such a situation, he should make his preparations. This retrenchment is going to affect Facebook as well as WhatsApp and Instagram.
Meta has made preparations to show the way out to a total of 10,000 employees in this round of retrenchment. In March, Chief Executive Officer Mark Zuckerberg announced that the company was going to lay off 10,000 employees. In such a situation, another round of retrenchment will be announced in May.
Has already laid off
Even before this, Meta had laid off 13 percent of its total workforce. This retrenchment was done in November and it affected a total of 11,000 employees. After this, the company had completely banned new hiring in the last quarter to cut down on expenses. Significantly, Meta is already going through difficult times. Since then, after the sinking of Silicon Valley Bank, the trouble of tech companies has increased manifold. In view of the decreasing income, the tech company is constantly laying off employees so that it can reduce its expenses.
The team will be restructured after the retrenchment
Mark Zuckerberg said in March that Meta is going to restructure its technology group by the end of April and its business group by the end of May. In such a situation, it was already indicated that the company is planning layoffs by April and May. The remaining employees will have to work with the new managers.
These companies also decided to lay off
Apart from tech companies, the process of layoffs is also going on in the entertainment industry. According to the report published in Live Mint, Walt Disney Layoffs is planning to lay off 15 percent of the employees. The company is also going to lay off employees on a large scale from the entertainment division. Apart from this, legal firm Ernst & Young Layoffs has also laid off 3,000 employees in America.
