Following 11,000 layoffs in November, Meta is reportedly planning to embark on another round of cuts that could see thousands of additional positions go.
Meta is planning to embark on another round of job cuts that could see “thousands” of positions go, according to a Bloomberg report on Monday.
Sources with knowledge of the latest cuts told Bloomberg that Meta, which owns Facebook, Instagram, and WhatsApp, is reshaping its organization to enable it to focus more on developing the so-called metaverse, a world that utlizes virtual reality for work and play and which Meta hopes will prove popular in the coming years.
On top of the second round of job cuts, which Bloomberg says could be confirmed internally in the next week, Meta is reported to be considering offering some of its managers buyout packages and could also disband entire teams in a bid to streamline its operations and cut costs.
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