According to reports from multiple sources within the company, Meta (formerly known as Facebook) is expected to initiate another round of mass layoffs this week. Tech news outlet, Vox, claims that the layoffs could affect around 4,000 jobs, with an official announcement expected to be made on Wednesday.
This latest round of layoffs is part of the 10,000 job cuts that CEO Mark Zuckerberg announced in March of this year. The company is undergoing a significant restructuring, which Zuckerberg has dubbed the “year of efficiency,” with a focus on cutting low-priority projects. Last November, the company announced 11,000 job cuts.
Zuckerberg has previously stated that the layoffs expected to take place in April will predominantly affect tech departments, while another round of layoffs planned for May will target the business side of the company.
There has been much speculation about which projects and teams will be affected by these job cuts. It is rumoured that the Facebook app and Reality Labs, which focuses on augmented and virtual reality experiences, will be particularly hard hit. However, it is believed that those working on game development may be safe, as Meta is attempting to market its metaverse concept to traditional gamers.
The metaverse, which Meta is investing heavily in, is a virtual space for social interactions, work, and e-commerce. Meta has spent billions of dollars developing its social VR platform, Horizon Worlds. However, the platform has struggled to attract users, with only around 200,000 monthly active users reported at the end of last year.
As the company continues to undergo significant changes, it remains to be seen what the future holds for Meta and its employees.