Meta to Announce Layoffs and Close Projects

03/11/2023 02:18 • Metaverse Matters • 88 views

According to reports, people familiar with the situation said that Meta plans to announce further layoffs in several rounds in the coming months, and the scale of layoffs will be roughly the same as that of 13% layoffs last year. People familiar with the matter said that the first wave of the new round of layoffs is expected to be announced next week. Non-engineering jobs may be particularly affected. At the same time, Meta is expected to close some projects and teams. People familiar with the matter said that the projects to be cut include Meta’s hardware and wearable devices in RealityLabs, the meta-space department, which indicates that Meta will give up promoting virtual reality and augmented reality products in the short term and take them as long-term research work.

Meta has learned that it plans to further lay off employees, and the Meta Universe department may be affected

Analysis based on this information:

Meta, the parent company of Facebook, plans to announce further layoffs in the coming months. The news comes after a 13% layoff last year. According to sources familiar with the matter, the scale of layoffs this time will be roughly the same as the previous one. The company will announce the first wave of layoffs next week, and non-engineering jobs may be affected the most.

In addition to job cuts, Meta is also expected to close some projects and teams. According to sources, the projects to be cut include Meta’s hardware and wearable devices in RealityLabs, the meta-space department. This move indicates that Meta will give up promoting virtual reality and augmented reality products in the short term and take them as long-term research work.

The announcement of layoffs and the closure of projects will likely have a significant impact on Meta’s operations and business strategy. The company’s decision to cut jobs and projects suggests that it is looking to streamline its operations and focus on its core businesses.

The decision to cut jobs and close projects is not surprising, given Meta’s recent history. The company has been facing scrutiny over its handling of user data and has been under pressure to improve its privacy and security measures. Moreover, the global pandemic has also had a significant impact on Meta’s operations and revenue.

In conclusion, Meta’s decision to announce layoffs and close projects is a clear indication of the company’s willingness to adapt to changing market conditions and prioritize its core businesses. It remains to be seen how the market will respond to this news, and what impact it will have on Meta’s growth and profitability in the long run.

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Meta to Announce Layoffs and Close Projects

Meta has learned that it plans to further lay off employees, and the Meta Universe department may be affected

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