Meta plans to lay off thousands more employees
Meta, the company owned by Facebook and Instagram, is planning to lay off thousands more employees this week.
SAN FRANCISCO: Meta, the company owned by Facebook and Instagram, is planning to lay off thousands more employees this week.
According to foreign media reports, Meta, the company that owns social media platforms Facebook and Instagram, has completed plans to lay off thousands of employees this week.
According to foreign media, the world's largest social media network is once again taking steps to reduce the number of employees on a large scale after last year.
Earlier, Meta had laid off 13% of its employees in November last year, after which 11,000 employees lost their jobs.
According to media reports, Meta is also working on the management structure of the company, which is also planning to reduce the packages given at the manager level, which will affect thousands of employees.
According to reports, these steps are being taken by META to achieve financial targets and maintain performance and no official statement has been issued in this regard so far, but it is being said that META will implement it in the coming days.
The next round of layoffs could be completed within the next week, according to people familiar with the matter.
