Facebook parent company Meta plans to downsize its global workforce this week. Meta looks to follow other tech giants Twitter and Google, announcing a staff reduction of almost 30-50%. Last week, Twitter cut its workforce by 50% due to a drop in profits.

Mark Zuckerberg’s metaplans “Layoffs on a massive scale”

Tech giant Meta is reportedly planning “large-scale layoffs” this week, the first time in the past 18 years, The Wall Street Journal reported. Meta had more than 87,000 employees as of September. Among the total employees, a large part works in the Metaverse Reality Labs division. The parent company of Facebook has also invested massively in the Metaverse division.

During the Q3 2022 earnings conference call, Meta CEO Mark Zuckerberg said most of the company’s teams “will stay…