Instagram, WhatsApp, and Reality Labs divisions of tech behemoth Meta have all announced layoffs.
Part of the company’s continuous endeavour to match resources with its long-term strategic goals and location plan is the decision that was made on Wednesday.
The long-term goal of the adjustments, according to a statement from Meta, is to keep the business competitive. “Today, a few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy,” said the statement. Though attempts would be made to assist affected staff in securing other opportunities, the corporation stated that although some employees will move to different roles, others may find their positions abolished.
Despite not disclosing the precise number of layoffs, Meta seems to be carrying out CEO Mark Zuckerberg’s “Year of Efficiency,” which he started in the previous year. In an effort to reduce costs overall and shift its attention away from the Metaverse, Meta has eliminated over 10,000 workers since making that announcement.
Curiously, the second quarter’s financial results beat expectations, and this was announced right after the layoffs. That being said, the decision to restructure its virtual reality hardware and software operations was probably influenced by the department’s continued significant losses.
