Meta, the tech giant behind platforms like Instagram, WhatsApp, and Reality Labs, has announced layoffs within these divisions as part of its ongoing efforts to align its resources with long-term strategic goals and location priorities.
In a statement made on Wednesday, Meta highlighted that these changes are essential to maintaining the company’s competitiveness in the long term. “Today, several teams at Meta are adjusting to ensure resources are in line with their long-term strategic objectives and location strategy,” the company stated. While some employees will be reassigned to new roles, others may face job cuts, though Meta pledged to support affected staff in finding new opportunities.
Though the exact number of layoffs was not disclosed, this decision seems to be part of CEO Mark Zuckerberg’s “Year of Efficiency” initiative, launched last year. Since then, Meta has already eliminated over 10,000 positions as part of a broader effort to reduce costs and shift its focus away from the Metaverse.
Interestingly, the layoffs come after Meta reported stronger-than-expected financial results for the second quarter. However, significant ongoing losses within the Reality Labs division likely played a role in the decision to restructure its virtual reality hardware and software operations.
Follow us on our social media platforms here: Twitter WHATSAPP CHANNEL FACEBOOK PAGE
Comments are closed, but trackbacks and pingbacks are open.