Tech giant Meta has announced layoffs across its Instagram, WhatsApp, and Reality Labs units.
The decision, made on Wednesday, is part of the company's ongoing efforts to align resources with its long-term strategic goals and location strategy.
In a statement, Meta emphasized that the changes aim to maintain the company’s competitiveness in the long run. "Today, a few teams at Meta are making changes to ensure resources are aligned with their long-term strategic goals and location strategy," the statement read. The company indicated that while some employees will transition to different roles, others may find their positions eliminated, though efforts will be made to help impacted staff secure new opportunities.
While Meta did not disclose the exact number of layoffs, this move appears to be a continuation of CEO Mark Zuckerberg’s "Year of Efficiency," which he initiated last year. Since that announcement, Meta has cut over 10,000 jobs as part of a broader cost-reduction strategy and a pivot away from the Metaverse focus.
Interestingly, the layoffs follow a release of better-than-expected financial results for the second quarter. However, ongoing substantial losses within the Reality Labs department likely contributed to the decision to reorganize its virtual reality hardware and software operations.
