Meta Plans More Job Cuts, Announcement Expected Next Month

Meta to Announce Further Job Cuts After Performance Reviews.

Meta, the parent company of Facebook, is reportedly planning another round of job cuts, according to the Financial Times. The company may announce the restructuring as early as next month, after completing staff performance reviews. In November, Meta laid off 11,000 employees, which was the largest reduction in its nearly 20-year history. The scale of the new restructuring is not known at this time.

If the reported plans come to fruition, Meta will join a growing list of companies who have had to make significant cuts to their workforce due to the economic impact of the COVID-19 pandemic. Despite the challenges faced by many businesses, few have gone forward with previously announced layoffs. Before November, Meta CEO Mark Zuckerberg had indicated that the company may become "a slightly smaller organization" by the end of 2023.