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Meta begins final round of layoffs, 6,000 employees to be impacted

After a period of extensive recruitment that resulted in the doubling of its workforce since 2020, Meta's current number of employees has declined to a level, which is similar to that of mid-2021

Meta, Meta India, Manish Chopra quits

Photo: Reuters

BS Web Team New Delhi

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Facebook's parent company Meta on Wednesday started its final round of layoffs.

According to a media reports, Meta will be laying off employees across all its platforms- WhatsApp, Facebook, and Instagram, as part of its plan to cut 10,000 jobs.

In March 2023, Meta Chief Mark Zuckerberg said that the majority of these layoffs in the second round would occur in three phases spanning over several months, with the process mostly concluding in May. Additionally, he mentioned the possibility of smaller rounds of layoffs continuing after that timeframe.

The tech giant, in March anounced around 4,000 job cuts out of the planned 10,000 in the month of April, leaving nearly 6,000 positions potentially on the chopping block.

Last year, in November, during the first round, Meta laid off nearly 11,000 employees.

After a period of extensive recruitment that resulted in the doubling of its workforce since 2020, Meta's current number of employees has declined to a level, which is similar to that of mid-2021. 

Zuckerberg also made a commitment to reorganise the company's business teams and to achieve a balance between the number of engineers employed and those employed in other roles. 

The report also highlighted that Meta's decision to lay off was a result of several factors, which included a decline in revenue growth over several months. The decline was impacted by high inflation and a reduction in digital advertising due to the waning impact of the pandemic-driven e-commerce surge.

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First Published: May 24 2023 | 7:55 PM IST

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