Meta Platforms begins second round of mass lay offs - Mobile World Live

Meta Platforms begins second round of mass lay offs

20 APR 2023
People visit a Meta Platforms stand at a trade show, with a logo akin to a figure of eight turned on its side and the company name in white against a black background

Meta Platforms reportedly pulled the trigger on its latest round of cuts which will result in 10,000 people losing their jobs, with the axe initially falling on engineers and adjacent IT teams.

CNBC reported employees with technical backgrounds including user experience, software engineering, graphic programming and engineers working on VR and AR had started to post on social media they had been let go.

Meta Platforms also confirmed to the outlet the cuts were underway.

An unnamed employee told CNBC the lay offs will hit business-facing roles spanning finance, legal and HR from May.

CEO Mark Zuckerberg revealed in March the company would lose another 10,000 staff, adding to 11,000 already impacted in November 2022.

Zuckerberg has explained the move is part of ongoing efforts to improve financial performance in the face of economic difficulty and, in turn, ensuring the company operates more efficiently.

Meta Platforms is scheduled to report its Q1 results on 26 April.

The company has been hit by a slump in digital advertising revenue, while it continues to invest heavily in the metaverse.



Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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