Facebook owner plans new round of layoffs – 07/03/2023 – Market

Meta Platforms will lay off thousands of workers as early as this week in a new round of job cuts, Bloomberg News reported late on Monday, just months after Facebook’s parent company cut 11,000 employees.

The new round of job cuts is being driven by financial targets, the news outlet said, citing sources familiar with the matter. Sought by Reuters, Meta did not comment on the matter.

Last month, the Washington Post reported that Meta was planning to cut jobs in an effort to reorganize and downsize.

The company at the time declined to comment, but spokesman Andy Stone cited in a series of tweets several past statements by CEO Mark Zuckerberg that suggested more cuts were on the way.

Meta’s layoffs in November, which involved more than 11,000 workers, are among the largest last year by a US company and were the first in the company’s history. Other technology companies, including Alphabet and Microsoft, have also cut thousands of employees.