The multinational technology company Meta has announced job cuts in its Reality Labs, Instagram, and WhatsApp divisions.
The choice was taken on Wednesday as part of the business’s continuous attempts to match resources with its geographical strategy and long-term strategic objectives.
Meta stressed in a statement that the modifications are intended to preserve the business’s long-term competitiveness.
“Today, certain groups at Meta are making changes to ensure assets are aligned with their long-term objectives and location method,” the statement continued.
Although attempts would be made to assist affected individuals in securing other opportunities, the corporation stated that some employees may have their employment removed and others may transfer to alternative responsibilities.
This decision seems to be an extension of CEO Mark Zuckerberg’s “Year of Efficiency,” which he started last year, even if Meta did not reveal the precise number of layoffs.
Over 10,000 positions have been eliminated by Meta since that announcement as part of a larger cost-cutting plan and a shift away from the Metaverse’s primary focus.
It’s interesting to note that the layoffs come after the company’s second-quarter financial performance were better than anticipated.
However, the decision to restructure its virtual reality hardware and software operations was probably influenced by the Reality Labs department’s continuous, significant losses.
