REPORT: Meta Platforms Inc. Announces Pending Layoffs

(Photo by JOSH EDELSON / AFP) (Photo by JOSH EDELSON/AFP via Getty Images)

Melanie Wilcox Contributor
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Meta Platforms Inc. reportedly told its employees in North America to work from home Wednesday as the tech conglomerate begins a second round of layoffs, according to Bloomberg.

Meta reportedly told managers to get ready to announce job cuts Wednesday, and indicated that Facebook, WhatsApp, Instagram, and Reality Labs will be affected, according to a memo obtained by Bloomberg News. (RELATED: REPORT: ESPN Layoffs Are Looming, And Apparently No One’s Job Is Safe)

The memo reportedly said that teams would be reorganized and employees reallocated to report to different managers, according to Bloomberg.

After cutting 11,000 jobs in November — or about 13% of its workforce — the company implemented a hiring freeze in quarter one, according to Bloomberg. The company plans on cutting 10,000 more jobs to lower costs, CEO Mark Zuckerberg posted on Facebook in March, with the next round of layoffs happening in May.

“This will be tough and there’s no way around that,” he wrote. “It will mean saying goodbye to talented and passionate colleagues who have been part of our success. They’ve dedicated themselves to our mission and I’m personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve.”

“I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” he added.