Meta is conducting layoffs across various divisions, including Instagram, WhatsApp, and Reality Labs, according to a report from The Verge on Wednesday. The layoffs are part of broader efforts to align with Meta’s long-term strategic goals and location strategies.
A Meta spokesperson confirmed to Reuters that some teams are being restructured, involving the relocation of employees or transitioning them to different roles. In cases where roles are eliminated, the company stated that they aim to find new opportunities for affected employees. While the exact number of job cuts was not disclosed, The Verge noted that the layoffs were small in scale.
In a separate development, the Financial Times reported that Meta recently terminated around two dozen employees in Los Angeles for misusing their daily $25 meal credits to purchase household items such as wine glasses and laundry detergent. These firings, unrelated to the ongoing team restructuring, reportedly occurred last week.
Since November 2022, Meta has cut approximately 21,000 jobs as part of its cost-cutting measures, with CEO Mark Zuckerberg labeling 2023 as the “Year of Efficiency.” Despite these reductions, Meta’s stock has risen over 60% this year. The company’s most recent quarterly earnings surpassed expectations, and Meta has projected strong sales growth, largely driven by digital ad spending that supports its investments in artificial intelligence.
