Meta, the parent company of Facebook, is planning to cut thousands of jobs in order to meet their financial targets, according to Bloomberg. The company has already cut 13 per cent of its workforce, but is expected to let go of more employees as soon as this week.
Sources have revealed that the upcoming round of Meta layoffs will impact thousands of people and jobs, and is set to take place this week. The announcement of these job cuts has been anticipated for some time, as Mark Zuckerberg, CEO, Meta, has made statements about the need to “flatten” the organisation and increase efficiency.
In November of 2022, Meta had already fired 11,000 people, which was seen as the biggest layoffs ever in the tech industry and in the 18 year history of the company. With the upcoming layoffs, thousands of more jobs will be impacted.
Although the Bloomberg report suggests that the layoffs may be finalised next week, the tech giant is expected to move quickly, and the job cuts may occur sooner than expected. Reports of subpar to poor performance reviews for employees have been circulating, adding to the already high anxiety levels among workers and employees at Meta.
Many employees are now worried about whether or not they will receive an email notifying them of their bonuses or informing them that they have been laid off. The ongoing uncertainty and fear about their future at the company has caused significant stress for Meta employees, and the potential impact of the upcoming layoffs is yet to be seen.
