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Meta to Conduct Another Round of Layoffs Affecting Up to 10,000 Jobs, Reports Say

Meta, the parent company of Facebook, Instagram, WhatsApp, and Reality Labs, is reportedly planning another mass round of layoffs this week, which could affect up to 10,000 jobs. This comes after CEO Mark Zuckerberg announced in March that the company would be cutting 10,000 jobs in the coming months, in addition to the 11,000 cuts made in November.

According to a memo seen by Bloomberg News, the layoffs will affect teams across Meta's family of apps and hardware, with remaining employees being reassigned to work under new managers. Meta will also be asking all North American employees who can work from home to do so on Wednesday, in order to have time to process the news.

Meta's head of people, Lori Goler, expressed that the layoffs will be a difficult time as they say goodbye to friends and colleagues who have contributed so much to the company. These continued layoffs are part of Zuckerberg's plans for a "year of efficiency" in 2023, which involves making the organization flatter by removing multiple layers of management and having many managers become individual contributors.

The economic downturn in Silicon Valley has forced major tech companies like Meta to reduce costs. In the past year, almost every major tech company has had rounds of layoffs, but Meta's have been particularly painful, with the company issuing the cuts in waves. This marks a significant shift from the free-spending work culture that was once prevalent in the tech industry, with unlimited perks, travel, and non-stop hiring becoming a thing of the past.

These layoffs are likely to have a significant impact on Meta's operations, as the company continues to face mounting scrutiny from regulators and lawmakers over its handling of user data and the spread of misinformation on its platforms. Meta's belt-tightening measures are indicative of the challenging economic conditions facing the tech industry, and the company's ability to weather these challenges will be closely watched by investors and industry observers alike.

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