A person stands in front of a Meta sign outside of the company's headquarters in Menlo Park, Calif., Tuesday, March 7, 2023. Facebookâs parent Meta will slash another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. (AP Photo/Jeff Chiu)
Meta Platforms Inc., the parent company of Facebook, WhatsApp, and Instagram, is reportedly preparing to lay off employees across its subsidiaries as it shifts its focus to developing the Metaverse. The company is planning to downsize teams that are not involved in the development of the Metaverse, according to sources. This move is expected to impact thousands of jobs across the company’s various locations worldwide.
The Metaverse is a term used to describe a virtual universe where users can interact with each other in a three-dimensional space. Meta has stated that it sees the Metaverse as the future of the internet and is therefore investing heavily in its development.
The layoffs are expected to begin as early as this week, although the company has not officially confirmed these reports. Meta’s CEO, Mark Zuckerberg, has previously stated that the company plans to hire 10,000 people in the European Union by 2022. It remains to be seen whether these layoffs will affect this hiring plan.
The downsizing is likely to affect employees across various departments, including marketing, public relations, and customer support. However, sources have indicated that the company’s core teams, including those working on the Metaverse, are likely to be unaffected.
In recent years, Meta has faced criticism over issues related to user privacy, misinformation, and hate speech on its platforms. The company has been working to address these issues and has made significant investments in areas such as artificial intelligence and content moderation.
In conclusion, Meta’s decision to downsize teams that are not involved in the development of the Metaverse is a significant move that is likely to have a widespread impact across its subsidiaries. The company’s focus on the Metaverse as the future of the internet underscores the importance of this technology in the years to come.
