Today Vox reported that sources have confirmed to them that Facebook will start to lay off more staff this week. Reportedly as many as 4,000 may be cut. This is on top of cuts already made at Facebook.
Back in March Meta, the parent company behind Facebook and Instagram, announced that it would cut an additional 10,000 employees and not fill 5,000 open jobs. This comes as Facebook is looking to cut “low-priority projects” at the company.
That was already on top of November 2022, Facebook cuts that laid off about 13% of its staff. This came as Facebook’s parent company Meta has been working to become more efficient as the ad market has been rapidly changing recently. To do that, they cut 11,000 jobs last year and now plan to cut more “non-essential” staff, according to Bloomberg News.
Meta’s cuts at Facebook and Instagram are not the only ones hitting tech companies. is not alone in recent tech layoffs. In the last year, Amazon has laid off 27,000 employees, Google 12,000, Microsoft 10,000, and Stripe laid off 7,000. This is just a small list of the companies seeing significant layoffs in the world of tech recently.
Increasing the tight ad market is putting companies like Meta in a tough spot. As companies cut back on ad spending Meta and others are forced to tighten their own belts.