Facebook parent Meta is reportedly planning to introduce large-scale layoffs this week that could affect thousands of employees, the Wall Street Journal has claimed.
The publication says that people familiar with the matter have informed them the cuts are coming and could be announced on Wednesday.
The news come as Irish Twitter staff are waiting to hear if they could be dismissed as part of job cuts in the wake of Elon Musk’s takeover.
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Meta employs over 3,000 people at it's office in Dublin.
Earlier this year, the company ended plans to hire 30% more engineers - with shares falling a massive 25% in one day in October.
Meta, which owns Facebook, Instagram, WhatsApp and Messenger, has plunged huge funding into the 'metaverse', a new online world, but it is not believed to have gone as well as expected.
Over the summer Mark Zuckerberg informed employees that the company was facing one of the “worst downturns that we’ve seen in recent history” and urged them to prepare for more work with fewer resources.
“I think some of you might decide that this place isn’t for you, and that self-selection is OK with me,” Mr. Zuckerberg told employees in a call at the time. “Realistically, there are probably a bunch of people at the company who shouldn’t be here.”
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