UPDATE 1-Facebook-parent Meta plans new job cuts that could match last year's tally - WSJ

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details from report) March 10 (Reuters) - Facebook-parent Meta Platforms is planning additional layoffs to be announced in multiple rounds over the next few months, which could match the 13% job cut tally from last year, the Wall Street Journal reported on Friday citing people familiar with the matter. Meta let go of 11,000 employees four months ago and would be the first Big Tech company to announce a second round of mass layoffs. The first wave of the new cuts would be announced next week and are likely to hit non-engineering roles the hardest, according to the report. The company is also expected to shut down some projects and teams in conjunction with these cuts, the report added. Meta did not immediately respond to a Reuters request for comment.


(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.