Facebook's parent company, Meta Corp., is planning a new set of layoffs that will result in thousands of layoffs this week, according to people close to the filing, according to Bloomberg.
This is the second major wave of layoffs the company has seen in a matter of months after laying off 11,000 jobs, or 13% of its workforce, in November last year.
The company is also streamlining its structure and gaining competencies, eliminating entire teams that it considers useless, which have not yet been created and could affect thousands of employees.
The sources said Meta, which has seen its advertising revenue slow and is focusing on virtual reality platform Metaverse, urged managers to prepare a list of employees who could be laid off.
The sources said that this stage of the division process will be completed next week. Another series of layoffs is expected after the sudden layoffs last November. Some employees in the company said that anxiety and depression have been increasing among employees recently, and some are afraid of paying bonuses this month if they lose their jobs before this date.
Last month, Meta announced its new Meta Verified Subscription service, which includes additional benefits for subscribers, including verified badges for Facebook and Instagram accounts for $11.99 per month, or $14.99 redeemable through a purchased iOS app. At this point, the company hopes to increase its revenue after the advertising revenue has decreased.
Analysts said MITA's future layoffs are linked to the recent wave of mass layoffs by major technology companies, as global markets and fears markets are not heading into a recession. Technology companies that have greatly increased their share of employment.
Major global companies reported between 5 and 7% of their workforce from Amazon at the beginning of the year, followed by Microsoft with 10,000, Alphabet with 12,000 employees, Twitter with 7,500 employees, and PayPal with 2,000 employees.