Powered by

After firing 11,000 employees in February, Facebook parent company Meta to sack more people

Layoffs are likely to be finalised next week


After sacking more than 11,000 employees in November, Meta Platforms Inc, the parent company of Facebook and Instagram, is now planning another round of job cuts.

According to a Bloomberg report, the company, which has been witnessing a slowdown in revenue from advertisements, asked its directors and vice presidents to come up with a list of employees who could be sacked.

The layoffs are likely to be finalised next week, although the company is yet to come out with a statement on the same. The earlier layoff had affected 13 per cent of the company's employees.

The fresh round of layoffs planned is separate from "flattening" and is driven by financial targets. "Flattening" refers to the company's earlier directive to managers and directors to transition from individual contributor jobs—which would mean that they focus on works like coding, research, and designing, instead of being incharge of others—or leave Meta.

The report of fresh job cuts comes even as Zuckerberg had earlier said 2023 will be "the year of efficiency".

According to a Wall Street Journal report, thousands of Meta employees were given poor performance reviews. More than 7,000 employees of the company were given the rating 'subpar', triggering fears of a fresh round of layoffs. 

📣 The Week is now on Telegram. Click here to join our channel (@TheWeekmagazine) and stay updated with the latest headlines