Meta Mulls Axing Thousands Of Jobs This Week

Meta is planning another round of job cuts that would kick out thousands of employees from their jobs, all purportedly to improve efficiency and earn billions for Mark Zuckerberg and other big bosses, Bloomberg News reported.

Photo Insert: The company has also been working to flatten its organization, giving buyout packages to managers and cutting whole teams it deems nonessential.

The retrenchment, the second in four months in the company that controls Facebook and Instagram, comes in the wake of Zuckerberg’s disastrous investments in metaverse, which has been lampooned in Silicon Valley as an area better left to Hollywood and Steven Spielberg’s animation studios.

In their reporting, Sarah Frier, Edward Ludlow and Kurt Wagner wrote that Meta Platforms, the world’s largest social networking company is eliminating more jobs, on top of a 13% reduction in November, in a bid to become a more efficient organization.

In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff.

The company has also been working to flatten its organization, giving buyout packages to managers and cutting whole teams it deems nonessential, Bloomberg News reported in February, a move that is still being finalized and could affect thousands of staffers.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic