Meta’s fourth round of layoffs has begun. This is the third round following the March announcement of the job cuts as the company’s “year of efficiency” takes shape. Early this year, Meta announced that it would lay off 10,000 workers in three rounds.

It isn’t clear how many workers are heading home in the latest layoffs. The new round mostly affects the non-engineering roles in the company. According to a Reuters report citing LinkedIn posts, it affected marketing, communications, and recruiting roles.

Zuckerberg
Zuckerberg

Last fall, Mark Zuckerberg sent out a memo to employees stating that the company’s revenues were “much lower” than expected due to the economic conditions. The memo added that the job cuts were “some of the most difficult changes” that the company had to make in its history and that the company needed these measures going forward.

In the subsequent months, a constant refrain from Zuckerberg had been that the company needed more efficiency. He went on to dub 2023 as the company’s “year of efficiency” and talked of his plans to create a “flatter” management structure at Meta.

In Meta’s most recent earnings call, Zuckerberg said he believed that the raft of measures including slowing hiring, flattening the company’s management structure, increasing the percentage of the company that is technical, along with the rigorous prioritization of projects would help improve Meta’s speed and quality of work.

With the latest round of layoffs, Meta has now offloaded about 21,000 employees in total since November last year. The company now has one of the largest layoffs in the industry. However, other tech companies are also downsizing and cutting jobs in light of the global economic situation. Major tech players Amazon, Google, and Microsoft have also cut thousands of jobs over the past 18 months.

https://virtualrealitytimes.com/wp-content/uploads/2022/11/Zuckerberg.pnghttps://virtualrealitytimes.com/wp-content/uploads/2022/11/Zuckerberg-150x90.pngRob GrantBusinessMeta’s fourth round of layoffs has begun. This is the third round following the March announcement of the job cuts as the company’s “year of efficiency” takes shape. Early this year, Meta announced that it would lay off 10,000 workers in three rounds. It isn’t clear how many workers are...VR, Oculus Rift, and Metaverse News - Cryptocurrency, Adult, Sex, Porn, XXX