After Twitter, Meta is looking forward to a second round of layoffs. Meta will be removing thousands of employees. Meta removed 11,000 employees last year.
Meta is facing a slowdown in revenue due to more restrictions in the targeted ads category. The company is not making any revenue. They are not even being able to pay off their investments. So to cut down the costs of the company, this step needs to be taken.
The CEO of Meta, Mark Zuckerberg has called it a 'year of efficiency' for the company. The company is analyzing the performance of each employee. This will give the company a clearer picture of who to keep and who to remove from the company. Therefore, the layoffs will take place according to the performance of the employees. But Meta itself has not confirmed this news yet.
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