Reuters reported that Meta Facebook’s parent company is set to lay off 10,000 employees in a second round. The second round of layoffs comes just four months after the company’s previous round, which laid off 11,000 workers. Meta was among the first large tech companies to cut a second round of layoffs, according to the report.
The tech industry is reeling from massive job cuts this year. driven by macroeconomic factors Many companies from the tech sector have continued to cut their workforce, and now Facebook’s parent company, Meta, is laying off 10,000 more.
Meta CEO Marck Zuckerberg informed his employees about the layoffs in an internal message, saying, “We expect to shrink the team by about 10,000 people and close about 5,000 more vacancies we haven’t hired yet.” report
Staff reductions are in line with Zuckerberg’s 2023 “year of performance” in which he promised $5 billion in cost cuts, Meta is now the first of the company’s second wave of layoffs. Meta stock, on the other hand, is up 1.9% in futures trading. according to the same report
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