Meta Reportedly Set to Layoff Thousands of Employees

    Meta, formerly known as Facebook, is reportedly planning to carry out another round of mass layoffs in the coming week, according to Bloomberg. The layoffs could affect thousands of employees as the company looks to streamline its operations and become a more efficient organization.

    The move is part of CEO Mark Zuckerberg’s plan to make 2023 Meta’s “year of efficiency.” The company has reportedly been asking directors and vice presidents to compile lists of employees who can be fired.

    The layoff phase follows Meta’s recent efforts to “flatten” its organization, with buyout packages being offered to managers and teams being cut where necessary. However, this is not the first time the company has had to carry out mass layoffs.

    The layoffs are part of a wider trend in the crypto industry, which has been plagued by asset price drops, company shutdowns, hacks, and mass layoffs. While the industry continues to grow and evolve, it is facing increasing scrutiny and regulation from governments around the world.

    Overall, the latest round of layoffs at Meta highlights the challenges facing the tech industry as a whole. As the industry evolves, it is likely that we will continue to see more companies making difficult decisions about staffing and resources in order to stay competitive and efficient.

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