'Large-Scale' Layoffs Expected at Meta

From PC Mag: It's a bad time to be employed at a major US tech firm: Meta Inc. is reportedly preparing for large-scale layoffs this week.

According to The Wall Street Journal, the Facebook, WhatsApp, and Instagram parent company could make its biggest-ever round of cuts as early as Wednesday.

The reductions—though smaller on a percentage basis than Twitter's recent downsizing—could mark the largest volume to date of employees expected to lose their jobs at a major technology corporation.

Meta did not immediately respond to PCMag's request for comment. A spokesperson, meanwhile, referred the Journal to CEO Mark Zuckerberg's recent statement that the company will "focus our investments on a small number of high-priority growth areas."

"So that means some teams will grow meaningfully, but most others teams will stay flat or shrink over the next year," Zuckerberg said during an Oct. 26 third-quarter earnings call. "In aggregate, we expect to end 2023 as either roughly the same size, or even a slightly smaller organization than we are today."

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