Meta, the owner of Facebook, Instagram, and WhatsApp, has announced a new round of layoffs in key departments of the company including WhatsApp, Instagram, and the Reality Labs division. This move is part of a series of layoffs aimed at addressing the challenges the company has been facing for the past two years.
Meta is facing major challenges such as user growth slowdown, increased competition from platforms like TikTok, Telegram, and Signal. The company has also incurred huge financial losses in the Reality Labs division, prompting them to make decisions to reduce costs and improve resource utilization.
Meta’s CEO, Mark Zuckerberg, had previously hinted at the need to restructure the company’s operations and improve its efficiency, naming 2023 as the “Year of Efficiency”, pledging to make the company more agile in achieving its goals.
While Meta has not disclosed the specific number of employees affected by these layoffs, these actions continue the trend of job cuts that began in late 2022, with over 21,000 employees being laid off in multiple phases.
In a statement to “The Verge”, a spokesperson for Meta confirmed that “some teams within the company are making changes to ensure alignment of resources with long-term strategic goals”. They also mentioned that some employees will be relocated to new roles in other locations, and that Meta is working to find alternative opportunities for employees affected by the layoffs.
The first round of layoffs at Meta began in November 2022, with 11,000 employees being let go. This was followed by another round in March 2023 when an additional 10,000 employees were laid off, as part of Zuckerberg’s efforts to make Meta a more productive and flexible company, while enhancing the work environment to be more fulfilling and enjoyable for employees.
These layoffs have saved billions of dollars for the company according to reports, and are part of Meta’s strategy to address ongoing challenges in the technology market and continue engaging with users.
