4 days Ago By Vaughn Cockayne
Tech giant Meta announced layoffs this week at its Instagram, WhatsApp and Reality Labs units. Meta said the cuts were made Wednesday to keep the company competitive in the long term. “Today, a few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy,” the company said in a statement.
“This includes moving some teams to different locations and moving some employees to different roles. In situations like this when a role is eliminated, we work hard to find other opportunities for impacted employees.” Meta didn’t specify the number of employees laid off.
This week’s cuts could be a continuation of CEO Mark Zuckerberg’s “Year of Efficiency,” which he announced last year. Since then, Meta has cut over 10,000 jobs to reduce costs and shift the company from the Metaverse. The layoffs come after Meta released better-than-expected numbers in the second quarter.
However, its Reality Labs department was still losing billions of dollars, which could explain the reorganization of the virtual reality hardware and software unit. Copyright © 2024 The Washington Times, LLC. .
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