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In a fresh rounds of layoffs, Facebook parent Meta plans to cut thousands of jobs this week

Meta Fresh Layoffs: Facebook's parent company is once again preparing for layoffs. Now the company can fire thousands of employees.

By Ruchi Upadhyay 
Updated Date

New Delhi: Facebook’s parent company Meta Platforms Inc. is preparing to lay off thousands of employees. The sorting of this new round can be done this week itself. Bloomberg’s report said on Monday that the world’s largest social networking company is laying off more employees. In November, this company had fired 13 percent of the employees. The company had taken the retrenchment of employees in view of the fear of recession at the global level and the reduction in the company’s revenue. Meta had done the biggest retrenchment by taking out 11 thousand employees.

Also Read :- CEO Mark Zuckerberg announces 10,000 job cuts, just four months after huge layoff

The company is taking many big steps to strengthen its social media platform. In this sequence, the company can now remove 1000 employees from the job. It has been said in the report that this retrenchment can happen during this week and it can be finalized as soon as possible. According to the report, the top official has asked to prepare a list to lay off the employees.

Regarding the retrenchment of the first employees, the company had said that this has been done due to the fear of recession and lack of revenue. At the same time, the company can further strengthen its business. Apart from this, Meta has also seen a slowdown in its ad revenue.

The November cuts were a surprise, but another round of firings has been widely anticipated by the Meta workforce. Zuckerberg has dubbed 2023 Meta’s “year of efficiency,” and the company has been communicating that theme to employees during performance reviews, which were completed last week, the people said.

Workers at the Menlo Park, California-based company described heightened anxiety and low morale among colleagues lately. Some employees expressed worry about whether they’d receive their bonuses, which are set to be distributed this month, if they lose their jobs beforehand, the people said.

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