Meta is preparing for mass layoffs
Meta, the parent company of Facebook, Instagram and Whats App, would be ready for a large-scale staff cut, with thousands of people likely to lose their jobs this week, according to a report published on the pages of the Wall Street Journal. >Newspaper sources say Meta's official announcement of layoffs will arrive on Wednesday, November 9, with the company apparently "telling employees to cancel non-essential travel earlier this week" .
If these rumors are confirmed, it would be Meta's first major staff cut since its founding as Facebook 18 years ago. In late September, the company said it had over 87,000 employees worldwide.
A Meta spokesperson declined to comment on the matter, however he reminded the Wall Street Journal of a recent statement by Mark Zuckerberg about the fact. that the company will focus in the future on "investing in a small number of high-priority growth sectors."
As a result, "some teams will grow considerably, but most others will remain unchanged or will reduced over the next year, "said Zuckerberg.
Mark Zuckerberg, CEO of Meta In the past few months, Meta has begun to lay off its staff, but not on a large scale as in this case. In an employee meeting in June, Zuckerber said that "there are probably a group of people in the company who shouldn't be here."
The alleged staff cut comes after the negative financial results recorded by Meta in the last quarter, with the Reality Labs division, which deals with VR, XR and metaverse, which recorded losses of 3.7 billion dollars.
Considering the whole of 2022, Reality Labs caused losses of $ 9.4 billion, on top of last year's $ 6.9 billion. Meta reassured shareholders that investments in metaverse and virtual reality will pay off, but not in the short term.
Last month Meta announced Meta Quest Pro, the new virtual reality headset with high end features, but even from a very high price, far from that of Meta Quest 1 & 2.
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