Meta layoffs

The company already cut 13% of its global workforce in November.

The November cuts were a surprise, but another round of firings has been widely anticipated by the Meta workforce. Those working on the plan are hoping to have it ready before chief executive Mark Zuckerberg goes on parental leave for his third child, which may be imminent, one person said. A Meta spokesperson declined to comment on the plans.

Meta Platforms, parent of Facebook, Instagram, and WhatsApp, architect of a metaverse, aggregator of eyeballs, is said to be preparing to layoff employees ...

And he pointed to [a study](https://www.jstor.org/stable/2580324?origin=crossref#metadata_info_tab_contents) showing that layoffs are the result of companies imitating one another without a rationale for doing so. And with the disclosure of its Q3 2022 results in October last year, the company They are doing it because other companies are doing it." In its Q4 2022 earnings report Meta said it expects to spend $1 billion on restructuring charges this year related to consolidating its office facilities. The report suggests Meta executives are working on a layoff plan to present to CEO Mark Zuckerberg prior to his planned paternity leave for the birth of his third child. Last year, Meta posted an operating loss of $13.72 billion for its Reality Labs division. In 2022, Meta's costs and expenses grew by 23 percent while its revenue declined one percent. The company's headcount as of December 31 was 86,482, which includes most of those scheduled to be jettisoned in the November purge. "Overall, this will add up to a meaningful cultural shift in how we operate." "I view layoffs as a last resort, so we decided to rein in other sources of cost before letting teammates go," he said. "These companies are all making money. [Meta cranks Zuckerberg's personal security budget to $14m while cutting everything else](https://www.theregister.com/2023/02/16/meta_zuckerberg_security_budget/) [Unlucky for some: Meta chops 13% of global workforce](https://www.theregister.com/2022/11/09/meta_redundancies_mark_zuckerberg/) [Meta, which pays for web scraping, sues to stop web scraping](https://www.theregister.com/2023/02/02/meta_web_scraping/) [Gelsinger takes ax to Intel after chip sales slump, profit nosedives](https://www.theregister.com/2022/10/28/intel_layoffs_results/)

Thousands of workers at the Silicon Valley tech behemoth, which owns Facebook, Instagram, WhatsApp and the struggling Meta Quest VR system, could reportedly be ...

[tech](https://sfgate.com/tech) behemoth, which owns Facebook, Instagram, WhatsApp and the struggling Meta Quest VR system, could reportedly be sacked as soon as this week pending final approval from Zuckerberg, who is scheduled to go on paternity leave for his third child. The news [was first reported by Bloomberg](https://www.bloomberg.com/news/articles/2023-03-07/meta-is-said-to-plan-thousands-more-layoffs-as-soon-as-this-week?leadSource=uverify%20wall). [mass layoffs](https://www.sfgate.com/tech/article/bay-area-layoffs-january-2023-17731719.php) at Meta just months after its first-ever major cutback, which hit 11,000 employees.

Meta is planning another round of layoffs that will cut thousands of employees as soon as this week. Meta stock edged down on the news.

It was a time when tech businesses were expecting consumers to go on a spending spree after the Covid-19 pandemic threats lifted. Meta stock soared as the company also announced $40 billion in new share repurchases. Layoffs.fyi tracks layoffs in the tech sector. Meta, like all social media companies, is struggling due to a sharp reduction in advertising as companies squirm over macroeconomic concerns, fears of a recession and higher interest rates. Meta stock has doubled since early November when the company announced its first round of layoffs. [Mark Zuckerberg Delivers The Medicine Meta Investors Needed Badly](https://www.investors.com/news/technology/meta-stock-jumps-on-40-billion-buyback/) [In An Emotional Letter, Zuckerberg Details Reason For Mass Meta Layoffs](https://www.investors.com/news/technology/meta-stock-climbs-as-mass-layoffs-revealed/) [Facebook-Parent Meta, Hit By Hard Times In 2022, May Be Overcoming Obstacles](https://investors.com/news/technology/meta-stock-jumps-on-positive-review/) [Amazon Ups The Ante On Layoffs, Plans To Cut 18,000](https://www.investors.com/news/technology/amazon-stock-company-ups-the-ante-on-layoffs/) [AMZN](https://research.investors.com/quote.aspx?symbol=AMZN)), Google parent Alphabet ( [GOOGL](https://research.investors.com/quote.aspx?symbol=GOOGL)), Microsoft ( [MSFT](https://research.investors.com/quote.aspx?symbol=MSFT)) and Salesforce ( [CRM](https://research.investors.com/quote.aspx?symbol=CRM)) and Meta. Meta stock dipped 0.2%, closing at 184.51, on the [120,000 tech employees have lost their jobs](https://www.investors.com/news/technology/tech-layoffs-show-no-signs-of-slowing/) in 2023, Roger Lee, founder of [Layoffs.fyi](https://layoffs.fyi/), said in an interview with IBD last week. Meta stock edged down on the news. Meta Stock Climbs On Layoff News [META](https://research.investors.com/quote.aspx?symbol=META)) reportedly is planning another round of layoffs that will cut thousands of employees as soon as this week.

The social media giant already laid off 11000 employees in November and has asked managers to stop manager to cut costs.

While tech was long considered the safest and most lucrative gig you can get, this inability to forecast basic economic trends at the expense of hundreds of thousands of employees doesn't inspire much confidence. The anonymous sources told Bloomberg that the looming threat of layoffs has had a decidedly negative impact on the morale and mental health of workers at Meta. Meta is also experimenting with a wide range of cost cutting measures, including [asking its many managers to stop managing](https://tech.co/news/meta-managers-jobs-quit) and take lower level positions in the company.

Tech layoffs continue to pile on: Meta, which axed 11,000 workers in 2022, was one of the first Big Tech companies to resort to layoffs as a release valve for ...

Our take: Multiple waves of layoffs are expected to hit Meta this year. [latest companies to undergo layoffs](https://www.linkedin.com/news/story/latest-layoffs-atlassian-and-more-6188026/). [Meta, which axed 11,000 workers](https://content-na1.emarketer.com/meta-job-cuts-hiring-freezes-could-derail-metaverse-pivot) in 2022, was one of the first Big Tech companies to resort to layoffs as a release valve for the economic downturn that was exacerbated by evaporating ad budgets.

The move affects about 500 employees. The reported restructuring being prepared by Meta and the job cuts at Atlassian are both part of a broader wave of tech ...

Th company will take a charge of $70 million to $75 million in connection with the restructuring. Show your support for our mission by joining our Cube Club and Cube Event Community of experts. It will continue to provide healthcare benefits for six months, pay out unused paid time off and accelerate stock vesting. [announced](https://www.atlassian.com/blog/announcements/atlassian-team-update-march-2023) plans to let go 5% of its workforce. [let go](https://siliconangle.com/2022/11/09/meta-lays-off-11000-employees-first-major-workforce-reduction-since-launch/) 11,000 employees in a move that reduced its global headcount by about 13%. The company earlier projected expenses of $96 million to $101 billion. Atlassian also offers an information technology service management, or ITSM, platform that administrators can use to perform tasks such as processing help desk tickets. The company also announced that it would freeze hiring in most areas through the end of March. Sydney-based Atlassian provides a broad range of software products for enterprises. In a The exact number of employees who could be affected is not yet known. [reported](https://www.bloomberg.com/news/articles/2023-03-07/meta-is-said-to-plan-thousands-more-layoffs-as-soon-as-this-week#xj4y7vzkg) the development late Monday, the same day Atlassian Corp.

Amid falling advertising revenue, Facebook parent Meta intends to carry out another round of layoffs that could impact thousands of employees, ...

Since then, we've taken some additional steps like working with our infrastructure team on how to deliver our roadmap while spending less on capex." [the metaverse](https://www.computing.co.uk/news/4060392/metaverse-%E2%80%98-grand-folly-cios-zuckerbergs-actions-%E2%80%98terrifying). [preparing for a new round of job cuts](https://www.computing.co.uk/news/4076512/meta-plans-additional-layoffs-various-divisions-report) that would impact multiple divisions worldwide. When we did this, I said clearly that this was the beginning of our focus on efficiency and not the end. [already let go in November](https://www.computing.co.uk/news/4059883/meta-fires-people), as part of a significant cost-cutting measure. [Meta has ordered directors and vice presidents](https://www.bloomberg.com/news/articles/2023-03-07/meta-is-said-to-plan-thousands-more-layoffs-as-soon-as-this-week) to compile lists of workers who could be let go.