Meta is laying off some of its staff and heavily reorganizing its teams. Times are tough for Menlo Park.
The Meta has begun laying off staff and reorganizing its teams to cut costs, according to a new report from The Wall Street Journal. The company was reportedly reluctant to talk about layoffs, but instead says it is “gently nudging a number of employees”in preparation for larger layoffs.
Meta lays off some of its employees
At this stage, no one knows how many Meta employees have been affected so far. According to the newspaper, Meta has allowed employees to apply for new positions at the company, but employees have only 30 days to do so. The result of the operation, according to The Journal, is that “employees with good reputations and good performance records are often forced out.”
and significantly reorganized their teams
Meta has been reporting for some time that it will cut payrolls and shut down some projects as it faces declining revenue during what Mark Zuckerberg calls “the economic downturn.”The CEO warned during the latest presentation of its financial results that Meta was going to slow down recruitment and that it needed to “do more with less.”
Hard times for Menlo Park
Mark Zuckerberg recently told his employees that the company is currently going through “difficult times”and managers have been asked to identify “laggards”who need to be fired. The company has also shut down some projects from its Reality Labs subsidiary, which lost $10 billion in 2021. Dozens of Meta contractors hired by an outside company also ended their mission.