Meta Employees Brace for Layoffs Ahead of Zuckerberg's Paternity Leave
upstart writes:
Many more Meta workers may be clearing off their desks very soon. Early on Tuesday, Bloomberg reported that Meta plans to lay off "thousands" of employees, and the first round of staff cuts could be finalized as early as this week, based on anonymous sources familiar with the matter.
[...] The anonymous sources quoted by Bloomberg said this new round of cuts is being driven by declining advertising revenues while it refocuses, again, on its metaverse ambitions. This is an apparent effort to help the company hit certain financial targets for 2023. The company reportedly asked team directors and vice presidents across the company to make up a list of names for those who should get the cut.
[...] In addition to these supposed layoffs, there's a so-called "flattening" happening at the company's Menlo Park headquarters and beyond. Previous reports noted how Meta is putting pressure on middle managers of small teams to either get them to do more grunt work, or otherwise leave the company.
Read more of this story at SoylentNews.