The Latest Breaking News from Meta

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MENLO PARK, California — Facebook owner Meta Platforms said Tuesday it has decided to chop another 10,000 jobs and hold off on filling thousands of open positions in a fresh round of brutal layoffs for the Bay Area’s tech sector.

The latest cuts come after Facebook parent company Meta let go of 13 per cent of its workforce last November as companies across the tech industry struggle to remain competitive as they cut costs

Meta is slashing jobs in a bid to recover from losses and invest in the ‘metaverse’.

Meta CEO Mark Zuckerberg announced the company is cutting another 10,000 jobs after it laid off 11,000 workers late last year.

It comes after it made 11,000 cuts just four months ago

Here it is. Facebook parent Meta just announced further cost-cutting measures after employees have spent weeks bracing for more pain.

Microsoft Mesh avatars are coming to Teams in May, bringing a touch off the metaverse to meetings.

Restructuring, as part of the company’s ‘Year of Efficiency’, also sees 5,000 unfulfilled job adverts closed

The company in February posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.

It's the second round of layoffs to hit the tech giant in the past few months.