#QuickTakes By

Meta To Layoff 1000 More Employees

Scribbled Arrow

TRENDING GLOBALLY

-: FOLLOW US :-  @theinsaneapp

Meta Platforms Inc,  is planning to cut thousand more jobs in a new round of layoff.

-: FOLLOW US :-  @theinsaneapp

The company had already reduced its workforce by 13% in November 2021, with 11,000 workers losing their jobs.

-: FOLLOW US :-  @theinsaneapp

The new layoffs are a part of the company's efforts to become more efficient.

-: FOLLOW US :-  @theinsaneapp

The company has been flattening its organization and cutting non-essential teams since February 2022.

-: FOLLOW US :-  @theinsaneapp

Meta has seen a slowdown in advertising revenue and has shifted its focus to a virtual-reality platform called the metaverse.

-: FOLLOW US :-  @theinsaneapp

The company has been asking directors and vice presidents to make lists of employees that can be let go.

-: FOLLOW US :-  @theinsaneapp

This round of layoffs could be finalized in the next week, before CEO Mark Zuckerberg goes on parental leave for his third child.

-: FOLLOW US :-  @theinsaneapp

The layoffs were widely anticipated by the Meta workforce, and have caused heightened anxiety and low morale among colleagues.

-: FOLLOW US :-  @theinsaneapp

Some employees expressed concern about whether they would receive their bonuses, which are set to be distributed this month, if they lose their jobs beforehand.