Source: news.google.com
The prospect of mass layoffs at Meta Platforms Inc. could increase pressure on CEO Mark Zuckerberg to deliver on the metaverse hype.
Citing people familiar with the matter, the Wall Street Journal reports that Facebook’s parent company, Meta Platforms Inc. META,
plans to initiate large-scale layoffs this week, the first major cuts in the company’s 18-year history.
The tech giant had 87,314 employees at the end of September, a year-over-year increase of 28%. Earlier this year, The Verge reported that Meta’s Reality Labs division, which includes the metaverse, had more than 17,000 employees.
also read: Meta takes another subtle step into a much-hyped metaverse
Meta shares were up 3% before the opening bell on Monday. The…
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