In its latest round of layoffs, Meta Platforms Inc is planning to cut thousands more jobs as soon as this week, as per reports
In an effort to streamline its operations, the largest social networking firm in the world is axing more positions in addition to the 13% reduction in November. In its previous wave of layoffs, Meta eliminated 11,000 employees, marking its first-ever significant mass dismissal.
Meta has also been working to flatten its organization, giving buyout packages to managers and laying of whole teams it deems nonessential, Bloomberg reported in February, a move that is still being finalized and could affect thousands of staffers.
Financial goals are driving the upcoming wave of cuts, which are distinct from the “flattening, “The individuals, who requested anonymity, were speaking about private concerns. According to the persons, Meta has been asking directors and vice presidents to compile names of staff who can be fired due to a slowdown in advertising…