Meta Announces First Wave of Mass Layoffs Affecting 10% of Workforce

Meta Platforms, formerly Facebook, is reportedly preparing for its initial round of mass layoffs on May 20, which will result in the elimination of 10% of its total workforce, following substantial financial losses from its metaverse investments.

17 Apr, 21:20 — 17 Apr, 21:20

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zerohedgeLow3h ago

Meta To Unleash First Wave Of Mass Layoffs May 20 As It Eliminates 10% Of Its Workers

Meta To Unleash First Wave Of Mass Layoffs May 20 As It Eliminates 10% Of Its Workers The FaceBook currently known as Meta for one failed venture that incinerated nearly $100 billion in cash for its failed transformation to a virtual reality hub while laying off thousands, is at it again. As we previewed a few weeks ago, Meta - which inexplicably hasn't changed its name to AIbook yet - will proceed with the first wave of mass layoffs planned for this year on May 20, with more ‌c...

By Tyler Durden

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Meta Announces First Wave of Mass Layoffs Affecting 10% of Workforce

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Meta To Unleash First Wave Of Mass Layoffs May 20 As It Eliminates 10% Of Its Workers

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