Meta, aka Facebook, Instagram, etc, has announced another series of layoffs, of another 10,000 employees. Now, this is something that more likely reflects the issues that they have been having with reduced growth, struggles in some of their ventures like the VR world they have been trying to build, the downhill roll of Meta Quest, and more. Specifically, they’ve spent $13.7 billion on the metaverse, while only bringing in $2.2 billion. They have to adapt or perish, and that adaptation appears to now be underway. Meta is also shutting down 5,000 roles that were open, and working on determining their next approaches. Clearly we will all have to watch Meta in the coming months to see how they will move, and how tech will evolve from here.
Meta is laying off 10,000 more employees following a major round of job cuts in November.