After Meta reported weak Q3 earnings, a report in the Wall Street Journal is now saying the company is preparing for massive layoffs this week. As of the end of September, Meta employs 87,000 employees. Similar to Twitter the layoffs are part of a company-wide effort to reduce costs which will also include could the cancelling of nonessential travel beginning this week. There is a high probability the layoffs will also impact the Facebook Canada team.
During the Q3 earnings report Mark Zuckerberg, CEO ended up spending a fair bit of time defending the company’s Reality Labs which focuses on VR/ AR.
“A lot of people might disagree with this investment,” Zuckerberg said. “But from what I can tell, I think that this is going to be a very important thing, and I think it would be a mistake for us to not focus on any of these areas, which I think are going to be fundamentally important to the future.”
If the layoffs do move forward let’s hope they learn something from the disastrous way that Twitter handled their layoffs.
[adrotate banner=”10″]
[adrotate banner=”4″]
[adrotate banner=”6″]
