{"id":69731,"date":"2022-11-08T15:59:14","date_gmt":"2022-11-08T13:59:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69731"},"modified":"2025-09-07T21:48:12","modified_gmt":"2025-09-07T18:48:12","slug":"wsj-meta-plans-large-scale-layoffs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/wsj-meta-plans-large-scale-layoffs\/","title":{"rendered":"WSJ: Meta plans large-scale layoffs"},"content":{"rendered":"<p>Meta plans to cut thousands of employees. This is reported by <a href=\\\"https:\/\/www.wsj.com\/articles\/meta-is-preparing-to-notify-employees-of-large-scale-layoffs-this-week-11667767794\\\"> The Wall Street Journal<\/a>, citing informed sources.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>As of the end of the third quarter, the company employed 87,000 people.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>In 2020\u20132021, Meta hired more than 27,000 employees, and in the first nine months of this year it filled another 15,344 positions.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Top management plans to issue the corresponding statement on November 9.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Employees have been instructed to cancel planned business trips.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Mass layoffs could be the first in the company\u2019s 18-year history. In absolute terms, they could be the largest in the IT sector this year.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>A company spokesperson declined to comment, noting CEO Mark Zuckerberg&#8217;s pledge to focus investments on a narrow set of priorities. The remarks came during a press briefing with analysts following the release of the third-quarter results.<\/p>\n<p>\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cBy the end of 2023, I expect we will be an organization that is the same size or slightly smaller than today,\u201d<\/em> Zuckerberg promised.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n<\/p>\n<p>In September, the publication reported plans to cut costs by at least 10 percent, including through layoffs.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>On the eve of Meta&#8217;s third-quarter results, Altimeter Capital Management <a href=\\\"https:\/\/medium.com\/@alt.cap\/time-to-get-fit-an-open-letter-from-altimeter-to-mark-zuckerberg-and-the-meta-board-of-392d94e80a18\\\">urged<\/a> Zuckerberg to reduce personnel costs by at least 20 percent, raise the investment program by at least $5 billion, and cap Reality Labs\u2019 development spending at $5 billion per year.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>As reported, in July\u2013September 2022 the loss of Reality Labs, the metaverse unit within Meta, <a href=\\\"https:\/\/investor.fb.com\/investor-news\/press-release-details\/2022\/Meta-Reports-Third-Quarter-2022-Results\/default.aspx\\\">amounted to $3.7 billion<\/a> ($9.4 billion for the year to date).<\/p>\n<p>\\n\\n\\n<\/p>\n<p>In October Meta<a href=\"https:\/\/u1f987.com\/en\/news\/meta-reaffirms-its-bet-on-the-metaverse\"> confirmed<\/a> that it regards the metaverse as the future of humanity.<\/p>\n<p>\\n\\n\\n<\/p>\n<p> Read ForkLog\u2019s bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meta plans to cut thousands of jobs, according to sources cited by The Wall Street Journal.<\/p>\n","protected":false},"author":1,"featured_media":69732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1293,1353],"class_list":["post-69731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-meta","tag-metaverses"],"aioseo_notices":[],"amp_enabled":true,"views":"46","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69731"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69731\/revisions"}],"predecessor-version":[{"id":69733,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69731\/revisions\/69733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69732"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}