Meta Platforms Prepares for Second Round of Layoffs in Push Towards More Efficiency

Tech giant Meta Platforms (NASDAQ: META) is preparing to lay off even more staff, in a push towards increased efficiency and lower costs.

According to Bloomberg which cited people familiar with the matter, Meta is slated to axe thousands of more employees as early as this week, marking yet another streamlining effort following a 13% staff reduction in November. Simultaneously, the Facebook and Instagram owner is also in the midst of flattening its business, eliminating entire teams it deems redundant as well as handing out buyout packages to managers.

The people added that Meta has been surveying directors and vice presidents to determine which employees should be let go, with plans to finalize the layoff lists sometime this week. The plan is supposedly going to be ready by the time CEO Mark Zuckerberg goes on parental leave in preparation for his third child. The layoff announcement doesn’t come as a surprise, though, as Zuckerberg previously communicated that 2023 would be the “year of efficiency.”

In the meantime, employees at Meta’s headquarters in California are allegedly feeling on edge, with low morale and concerns about whether they will receive their bonuses this month should they lose their job.


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Russell Will Lead the Next Market Crash!? | John Feneck

The Global Conflict Has Already Started | Bryan Cunningham

Silver Still At 90:1, What If It Snaps Back To 15:1? | Glenn Jessome – Silver Tiger

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Mark Vs. Musk Undercard: Instagram’s Twitter, Threads, Set To Launch This Thursday

Prior to the will-they-won’t-they cage fight between Meta Platforms (NASDAQ: META) CEO Mark Zuckerberg and...

Tuesday, July 4, 2023, 12:34:00 PM

Chevron Implements Texas Layoffs as Part of Global Workforce Reduction

Chevron Corp. (NYSE: CVX) plans to lay off approximately 200 employees in Texas on July...

Thursday, July 10, 2025, 09:47:00 AM

Volkswagen Faces Potential Job Cuts Amid Cost-Reduction Efforts

German automaker Volkswagen (ETR: VOW3) is grappling with financial challenges that may lead to significant...

Friday, September 20, 2024, 11:29:00 AM

British Oil Giant BP Cuts Nearly 5% of Workforce “To Simplify” Operations

British energy titan BP (NYSE: BP) unveiled a significant restructuring plan on Thursday, announcing the...

Thursday, January 16, 2025, 02:48:00 PM

Meta Hit with €251 Million Fine Over 2018 Data Breach

Ireland’s data protection watchdog has fined Meta Platforms (Nasdaq: META) €251 million over a 2018...

Wednesday, December 18, 2024, 07:49:41 AM