In the past few months, large tech companies such as Meta, Google, Microsoft, Amazon and IBM have made massive layoffs. In November 2022, Meta, the parent company of Facebook, Instagram and WhatsApp, laid off more than 11,000 people. Now comes a new wave of layoffs.Thousands more will be fired
According to a Bloomberg report, Meta is preparing to lay off thousands of jobs once again, and layoffs could begin this week, according to reports. On the other hand, it should be noted that the number of personnel of the company decreased by 13 percent as of November 2022.
Meta CEO Mark Zuckerberg said some time ago that the company will focus on cutting costs this year and has designated 2023 as the “Year of Productivity”. Zuckerberg said in February that Meta plans to “terminate projects that are underperforming or may no longer be important” and “remove middle management layers to make decisions faster.”Meanwhile, Meta’s Reality Labs division, which is tasked with creating the virtual reality and augmented reality technologies required for the metaverse, brought in $727 million in revenue in the fourth quarter, while also losing $4.28 billion. It is stated that while tons of resources are allocated to the Metaverse business, it will also focus on the field of artificial intelligence.
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