SAN FRANCISCO: Meta Platforms Inc is set to commence companywide layoffs on Wednesday as it restructures teams and works toward founder Mark Zuckerberg’s goal of greater efficiency.
The Facebook parent company notified managers to prepare to announce job cuts on Wednesday, via a memo seen by Bloomberg News. It indicates Facebook, WhatsApp, Instagram and Reality Labs — which houses the firm’s virtual reality efforts and Quest hardware — will all be impacted. The move is part of a cost-cutting push that will eventually whittle away 10,000 positions at the company, as announced by Zuckerberg in March. A further round of cuts is set to follow in May.
