Meta reportedly plans more job cuts

Facebook parent company Meta reportedly plans to further reduce its headcount in the coming weeks. According to the Financial Times, work at the tech giant has slowed to a crawl while it plots a new round of job cuts. Meta is likely to announce the restructuring after it has completed staff performance reviews sometime in March. In November, the company laid off 11,000 employees or about 13 percent of its global workforce. Those cuts were the largest in Meta’s nearly 20-year history, affecting every organization within the company. Meta did not immediately to Engadget’s comment request. The Times did not report on the potential scale of the restructuring.

While Meta is far from the only company to cut staff in the past year, significantly fewer have expanded previously announced layoffs. If the reporting from The Times is accurate, Meta would find itself in the company of the likes of Amazon and Coinbase. The former first outlined plans to reduce its headcount by 10,000 employees only to later announce it was cutting closer to 18,000 jobs. Before November, Meta CEO Mark Zuckerberg told analysts the company could become “a slightly smaller organization” by the end of 2023.