The Wall Street Journal reports that Facebook’s parent company, Facebook, is cutting thousands of jobs.
Social media giant Meta reported over 87,000 employees by the end of September. Mass layoffs are expected to cut off a significant portion of this figure. Sources familiar with the matter have reported that the layoffs could begin as soon as Wednesday. Meta’s chief product officer warned employees of “serious times” back in June.
Facebook halted job-hirings around two months ago. Company CEO Mark Zuckerburg warned that the company could downsize in the near future. Some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. Facebook declined a request for comment on the matter.