According to reports Wednesday, Facebook parent firm Meta has launched a new wave of layoffs with technology personnel.
The layoffs are expected to affect Facebook, Instagram, WhatsApp, Reality Labs, Meta’s VR development section, and Quest, Reality Labs’ virtual reality headset.
Last month, Meta co-founder and CEO Mark Zuckerberg stated that the business will slash 10,000 people and close another 5,000 open positions that have not been filled as he declared 2023 the year of “efficiency” and said the cuts will help construct “a leaner, more technical company.”
Meta lay off around 11,000 workers in November, reducing its employment by 13%.
The company’s stock price was down 1% to $215.67 on the Nasdaq in New York at 12:07 p.m., after closing at $217.89 on Tuesday.