Facebook owner Meta is reportedly planning another round of mass layoffs after CEO Mark Zuckerberg decided 2023 would be “the year of efficiency” for the social media behemoth.
Bloomberg reports that the layoffs, which could total in the thousands, could come as early as this week. Meta already shed 13 percent of its staff in a cost-cutting plan announced in November.
Meta has seen its core advertising income suffer for a variety of reasons, including tough market conditions, a recent privacy update from Apple, and competition from TikTok. Costs have continued to rise, partly because of Zuckerberg's big-idea pivot to domination of the metaverse.
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