Posted: April 19, 2023 at 1:40 PM ET
Meta Platforms Inc. The latest round of layoffs is on Wednesday, but this time the technical positions are trimmed.
Facebook’s parent company META, in the midst of cutting 21,000 jobs, is making the cut a week before it reports first-quarter financial results on April 26. Meta CEO Mark Zuckerberg has repeatedly called 2023 “the year of efficiency” for the social networking company—as it heads into a downward spiral in digital advertising, its financial lifeblood.
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Meta Platforms Inc. The latest round of layoffs is on Wednesday, but this time the technical positions are trimmed.
Facebook’s parent company
meta
And
In the midst of cutting 21,000 jobs, it’s making the cuts a week before it reports first-quarter fiscal results on April 26. Meta CEO Mark Zuckerberg has repeatedly called 2023 the “year of efficiency” for the social networking company as it navigates a dip in digital advertising, its financial lifeline.
It’s unclear how many jobs are shed in this round, though, according to Vox reported tuesday It will be “within” 4,000 people. However, another employee tour of the company’s business groups is planned for May, according to people familiar with Meta Strategy.
Meta is one of a number of technology companies that have cut jobs in recent months. Netflix Inc.
NFLX
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Salesforce Inc
CRM
and Amazon.com Inc.
AMZN
I did the same, and Alphabet Inc.’s
Google
Google
Google is expected to announce additional layoffs soon.
Shares of Meta, which are up 80% so far this year, were flat in early trade Wednesday afternoon.