Meta Platforms, owner of Facebook and Instagram, is set to lay off thousands more employees this week, according to sources quoted Tuesday by Bloomberg News.
The latest round of layoffs follows a 13 percent reduction of its staff last November, with layoffs of 11,000 employees in its first-ever major cut.
It’s not yet clear exactly how many Meta employees will lose their jobs this time around.
In addition, the company has offered buyout packages to its managers and slashed entire teams that were deemed nonessential.
Meta has been asking its directors and vice presidents to compile lists of those workers that can be laid off, the sources said.
CEO Mark Zuckerberg dubbed 2023 as the company’s “Year of Efficiency,” as Meta looks to streamline its operations.
It’s believed the company is trying to get the layoffs in place before Zuckerberg takes his paternity leave for the imminent birth of his third child with wife Priscilla Chan.
