clau00006Oct 171 min readMeta is terminating employees at Reality Labs, Instagram, and WhatsApp.Meta is cutting off employees at Instagram, WhatsApp, and Reality Labs, which houses the majority of the "metaverse technologies" (such as augmented and virtual reality technology).The Verge, which quoted people with knowledge of the situation, claims that the layoffs are not widespread but rather are part of smaller reductions that seem to have occurred at the same time that some teams were reorganized.It was not stated how many people were laid off.Responding to questions from the media, a Meta representative stated that "a few teams" are making adjustments to guarantee alignment with their locations strategy and long-term strategic goals.Meta's most recent round of layoffs since the COVID-19 epidemic endedAccording to CNBC News, Meta cut off 11,000 workers in November 2022, toward the end of the COVID pandemic, or about 13% of its workforce.In 2023, Mark Zuckerburg, the CEO of Meta, proclaimed 2023 the "Year of Efficiency" and lay off a further 10,000 employees.Meta's Reality Labs division reported a second-quarter 2024 loss of over US$4.5 billion (S$5.9 billion) earlier in July 2024.Since 2020, Reality Labs has lost roughly US$50 billion (S$65.6 billion) in total.
Meta is cutting off employees at Instagram, WhatsApp, and Reality Labs, which houses the majority of the "metaverse technologies" (such as augmented and virtual reality technology).The Verge, which quoted people with knowledge of the situation, claims that the layoffs are not widespread but rather are part of smaller reductions that seem to have occurred at the same time that some teams were reorganized.It was not stated how many people were laid off.Responding to questions from the media, a Meta representative stated that "a few teams" are making adjustments to guarantee alignment with their locations strategy and long-term strategic goals.Meta's most recent round of layoffs since the COVID-19 epidemic endedAccording to CNBC News, Meta cut off 11,000 workers in November 2022, toward the end of the COVID pandemic, or about 13% of its workforce.In 2023, Mark Zuckerburg, the CEO of Meta, proclaimed 2023 the "Year of Efficiency" and lay off a further 10,000 employees.Meta's Reality Labs division reported a second-quarter 2024 loss of over US$4.5 billion (S$5.9 billion) earlier in July 2024.Since 2020, Reality Labs has lost roughly US$50 billion (S$65.6 billion) in total.
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