Facebook Parent Meta Is Preparing To Notify Employees of Large-Scale Layoffs This Week

Meta is planning to begin large-scale layoffs this week, WSJ reported over the weekend, citing people familiar with the matter, in what could be the largest round in a recent spate of tech job cuts after the industry's rapid growth during the pandemic. From the report: The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said. The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history. While smaller on a percentage basis than the cuts at Twitter Inc. this past week, which hit about half of that company's staff, the number of Meta employees expected to lose their jobs could be the largest to date at a major technology corporation in a year that has seen a tech-industry retrenchment.

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