Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week.
Social media and tech giants saw rapid growth during the pandemic and subsequent lockdowns. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning, they’re seeing a contraction.
On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added.
The sources said that Meta staff have already been told to cancel non-essential travel. The firm reportedly had over 87,000 workers as of September.
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