Meta Could Begin Large-scale Layoffs

Published on:

Last Updated on November 7, 2022 by Bitfinsider

According to a report from the Wall Street Journal, Facebook’s parent company Meta could begin mass layoffs as soon as Wednesday.

According to the article, thousands of employees are expected to be affected by the layoffs, which would be the first significant fall in personnel in Meta’s history. The corporation announced that it had more than 87,000 employees at the end of September.

A spokesman for Meta declined to comment and directed Bitfinsider to Zuckerberg’s remarks on the company’s most recent earnings call.

Zuckerberg stated at the time, “In 2023, we will concentrate our spending on a small handful of high priority growth areas.” This suggests that some clubs will experience significant growth over the coming year, while the majority of teams will either remain stable or decline. We anticipate that by the end of 2023, our organization will be around the same size or even slightly smaller than it is today.”

Meta shares have fallen 73% this year, reaching their lowest level since early 2016, and the social media behemoth is currently the poorest performer among the S&P 500 in 2022.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related