Meta plans new job cuts that could match last year's tally
Meta logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration
Facebook-parent Meta Platforms META.O is planning additional layoffs to be announced in multiple rounds over the next few months, which could match the 13% job cut tally from last year, the Wall Street Journal reported on Friday citing people familiar with the matter.
Meta let go of 11,000 employees four months ago and would be the first Big Tech company to announce a second round of mass layoffs.
The first wave of the new cuts would be announced next week and are likely to hit non-engineering roles the hardest, according to the report.
Keep updated, follow The Business Standard's Google news channel
The company is also expected to shut down some projects and teams in conjunction with these cuts, the report added.
Meta did not immediately respond to a Reuters request for comment.
