meta will start laying off 11 thousand employees next week

San Francisco: Facebook’s parent company Meta is all set to conduct additional layoffs in the second round next week. It is being told that this time also the company can cut jobs by 13 percent i.e. around 11,000 like last year. Under this, people of non-engineering department are likely to lose their jobs first.

Meta Platforms plans to announce several rounds of additional layoffs in the coming months, according to a report in The Wall Street Journal. It roughly cut the workforce by 13 last year, the report said late Friday. The company also expects to close some projects and teams along with these cuts, the report said. The job cuts will result in projects in Meta’s hardware and Metaverse verticals as well as Reality Labs. Will be affected, whose budget is currently in the billions of dollars.

However, the final count of cumulative job cuts expected in the second quarter is not yet clear. We continue to see the company in both the family of apps and Reality Labs, Meta’s chief financial officer Susan Lee said at a Morgan Stanley conference call on Thursday. and really evaluating whether we are deploying our resources toward the highest leverage opportunities. This has led us to make tough decisions to close projects in some locations, to move resources from some teams, Lee said.

After laying off 11,000 employees in November last year, Meta plans to further reduce its workforce. I think we’ve made some degree of change for the company, said Mark Zuckerberg, the company’s founder and CEO. The global workforce has grown steadily for nearly two decades, he said, making it very difficult to really crank up on efficiency.