Meta to begin mass layoffs, 10,000 positions to be eliminated in cost-cutting campaign
- ByStartupStory | April 19, 2023
Meta, formerly known as Facebook, is reportedly set to begin mass layoffs across its entire organization, including Facebook, Instagram, and WhatsApp, as part of a cost-cutting campaign. The move will eventually eliminate around 10,000 positions at the social media giant, according to a report from Bloomberg News.
In preparation for the announcement of these job cuts, Meta has informed its managers to get ready, with Facebook, WhatsApp, and Instagram all set to be affected. The company’s Reality Labs, which includes researchers, developers, and engineers working on virtual reality and augmented reality gadgets, as well as its metaverse vision, will also be impacted.
This news follows recent controversies surrounding the company’s role in the spread of misinformation and the negative effects of social media on mental health. However, Meta CEO Mark Zuckerberg has previously stated that the company is focused on building the metaverse, a virtual environment where users can interact in real-time, as a new platform for social connection and commerce.
In a recent earnings call, Zuckerberg stated, “We believe the metaverse will be the successor to the mobile internet, and we’re positioning ourselves to lead in this next generation of computing.” It remains to be seen how these job cuts will affect Meta’s progress towards this goal.
Despite the challenges, Meta’s leadership remains optimistic about the future. In a recent memo to employees, Zuckerberg wrote, “We’re making tough but necessary changes to focus our company on what we do best and move us forward towards our vision of building the metaverse.” He also acknowledged the impact these job cuts will have on affected employees, stating that the company will do everything it can to support them during this transition.
The coming months will likely be a period of significant change for Meta and its employees. However, the company’s focus on building the metaverse suggests that it is committed to innovation and progress, even in the face of difficult decisions.
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