Meta Announces Further Layoffs and Project Closures

03/11/2023 02:18 • Crypto & Markets • 84 views

According to reports, people familiar with the situation said that Meta plans to announce further layoffs in several rounds in the coming months, and the scale of layoffs will be roughly the same as that of 13% layoffs last year. People familiar with the matter said that the first wave of the new round of layoffs is expected to be announced next week. Non-engineering jobs may be particularly affected. At the same time, Meta is expected to close some projects and teams. People familiar with the matter said that the projects to be cut include Meta’s hardware and wearable devices in RealityLabs, the meta-space department, which indicates that Meta will give up promoting virtual reality and augmented reality products in the short term and take them as long-term research work.

Meta has learned that it plans to further lay off employees, and the Meta Universe department may be affected

Analysis based on this information:

According to reports, social media giant Meta (formerly known as Facebook) is planning to lay off an unspecified number of employees and close down some of its own projects and teams. People familiar with the matter have revealed that the company is likely to announce these layoffs in several rounds in the coming months, with the first wave of announcements expected to be made public next week. It has also been revealed that non-engineering jobs may be impacted more by these layoffs than technical roles.

This news comes after Meta laid off 13% of its workforce last year, citing the need to become more efficient and focus on new areas of growth. While the official announcement has not been made yet, sources claim that the scale of the current layoffs will be similar to that of last year’s numbers. This indicates that the company is still struggling to maintain its large workforce and may be looking for ways to reduce costs in the face of increasing competition.

In addition to the layoffs, Meta is also expected to shut down some of its own projects and teams. These include the company’s hardware and wearable devices in RealityLabs, the meta-space department. This suggests that Meta has decided to give up promoting virtual reality and augmented reality products in the short term and focus on long-term research work in these areas. This is a significant shift for the company, which has been investing heavily in virtual reality products and technology for years.

The news of further layoffs and project closures at Meta is likely to cause concern among employees and industry experts. It remains to be seen how the company will manage to maintain its dominance in the social media and tech industry while also cutting its workforce and downsizing some of its own projects. It is clear that Meta is still struggling to find a sustainable growth strategy in the ever-changing world of technology.

Overall, the current situation at Meta raises important questions about the future of social media and tech giants in general. With increasing concerns about data privacy, competition, and efficiency, it is clear that even the biggest companies in the industry are not immune to the challenges of the modern world. Only time will tell how Meta and other companies will navigate these challenges and continue to thrive in the years to come.

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Meta Announces Further Layoffs and Project Closures

Meta has learned that it plans to further lay off employees, and the Meta Universe department may be affected

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