The social media giant Meta (Facebook) is set to lay off 11,000 employees in one of its biggest rounds of job cuts in its history. The cuts come as the company looks to reorganize its workforce and focus on new areas of growth.
Most of the job cuts will be in the company's sales and marketing divisions, as well as its engineering and product teams. The cuts are part of a reorganization that Facebook announced in a memo to employees last week. In the memo, the company was "making a shift" in its priorities and would be "focusing more on messaging and less on News Feed."
The move comes as Facebook faces increased scrutiny from regulators and lawmakers around the world. However, Facebook says the layoffs are not related to the recent criticism but are instead a result of "internal changes" that are being made to the company's content moderation department. The company is also under pressure to grow its business in the face of slowing user growth and engagement. The job cuts are expected to be completed by the end of the year.
Many are wondering what this means for the future of Facebook and the tech industry as a whole. Only time will tell how this will all play out.
What do you think about Facebook's layoffs? Do you think this is a good move for the company? Or do you think it will come back to bite them? Let us know in the comments below!