Meta is implementing job cuts across several of its key divisions, including Instagram, WhatsApp, and Reality Labs, as reported by the Verge on Wednesday. The report cites sources familiar with the situation who indicate that these layoffs are part of the company's broader strategy to realign its workforce with long-term business goals.
A spokesperson for Meta provided a statement to Reuters, explaining that certain teams within the organisation are undergoing changes to better align with their strategic objectives and location plans. "This includes relocating some teams to different geographic areas and repositioning some employees into new roles," the spokesperson mentioned. They emphasised, "In situations where a role is eliminated, we make concerted efforts to identify other opportunities for those affected."
While the Verge did not disclose the precise number of positions being cut, it did indicate that the layoffs are on a smaller scale. Meta has not released any figures regarding the total number of job cuts involved in this restructuring effort.
In a separate issue, the Financial Times reported that Meta recently terminated approximately two dozen employees in their Los Angeles office. These dismissals are said to have occurred due to allegations that the employees misused their daily meal credits, each worth USD 25, to purchase non-food items such as acne treatment products, wine glasses, and laundry supplies. The layoffs related to this matter occurred last week and are distinct from the ongoing team restructurings. Meta chose not to comment on this specific report from the Financial Times.
Overall, this latest wave of layoffs adds to the roughly 21,000 positions that Meta has cut since November 2022 as part of an effort to streamline costs. CEO Mark Zuckerberg has referred to 2023 as the "Year of Efficiency," indicating a strong focus on minimising expenses and optimising operations within the company.
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Inputs from Reuters
