Meta to Layoff Thousands of Employees This Week
Crypto winters have come and gone, but none of them have been as harsh as last year’s. The space was plagued by asset price drops, company shutdowns, hacks, and mass layoffs. Despite stepping into another new calendar year, the layoff spree has been going on in full swing. A recent report from Bloomberg revealed that Meta is looking to initiate a new round of layoffs. Citing “people familiar with the matter,” the report highlighted that thousands of employees are likely to be affected as soon as this week. Meta is reportedly doing so “to become a more efficient organization.” Zuckerberg has apparently labeled 2023 as Meta’s “year of efficiency.” In fact, the company has been conveying the said theme to employees during performance reviews. The evaluations were reportedly completed last week. According to Bloomberg’s unnamed sources, The imminent round of cuts is being driven by financial targets and is separate from the “flattening,” said the people, who asked not to be ide