Meta plans new job cuts that could match last year's tally

Facebook-parent Meta Platforms is planning additional layoffs which could match 13% of job cut tally from last year to be announced in multiple rounds

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.

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Meta did not immediately respond to a Reuters request for comment.

In November last year, lasyoffs in Meta impacted staffers at every level and on every team. At the time, Chief Executive Officer Mark Zuckerberg also issued an apology about having to cut 13% of the workforce, telling employees he had failed to forecast Meta’s first dropoff in revenue.