Facebook/Meta to make huge job cuts

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Facebook’s parent company Meta is reportedly planning to begin large-scale lay-offs this week that will affect thousands of employees.

US media reported at the weekend that the job cuts could be announced as early as Wednesday.

During Meta’s disappointing third quarter results, chief executive Mark Zuckerberg said staffing might fall.

“In 2023, we’re going to focus our investments on a small number of high-priority growth areas,” he said.

Meta has about 87,000 employees worldwide across its different platforms, which include Facebook, Instagram and WhatsApp.

The plans for job cuts follow difficulties across the tech sector as the industry contends with slowing global economic growth.

Mr Zuckerberg said he expected some teams to “stay flat or shrink” over the next year.

Read more at BBC.com

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!