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Meta Platforms Layoffs 2023: What to Know as Facebook Preps More Job Cuts

  • Meta Platforms (META) layoffs could be on the way for employees.
  • That comes amid reports the Facebook parent company is considering more job cuts.
  • This follows 11,000 workers being laid off in November.
Meta Platforms Layoffs META stock logo is shown on a device screen. Meta is the new corporate name of Facebook.

Source: Blue Planet Studio /

Meta Platforms (NASDAQ:META) layoffs are a hot topic among traders Monday as the Facebook parent company is reportedly considering more job cuts.

According to these recent reports, Meta is undergoing a performance review of staff to determine which jobs to cut. Insiders claim this could see the company announce a new wave of workforce reductions in March.

It’s unclear what jobs would be affected by the Meta Platforms layoffs. However, founder and CEO Mark Zuckerberg did address potential job cuts in the company’s fourth-quarter earnings report.

At that time, Zuckerberg said Meta Platforms was considering cutting out middle management. The intention of this is to increase decision-making speed at the company. He also said unimportant projects may also be discontinued.

Not Meta Platforms’ First Layoffs

Meta Platforms has already made major job cuts when it reduced its workforce by 11,000 employees back in November 2022. Those layoffs affected workers in the company’s Family of Apps and Reality Labs divisions.

Investors will note the Meta Platforms layoffs come at a time when many big tech companies are cutting jobs. That has to do with the economy as inflation, interest rates and fear of a recession affect businesses.

META stock is up 2.5% as of Monday morning.

Investors looking for more of the latest stock market news today are in luck!

We’re covering all of the hottest stock market topics with our dive into the space on Monday! That includes why shares of Axsome Therapeutics (NASDAQ:AXSM), Bally’s (NYSE:BALY) and Ford Motor (NYSE:F) stock are moving today. All of that news is ready to go below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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