Meta Set to Announce Another Round of Mass Layoffs – Several sources within the company have informed Vox that Meta, formerly known as Facebook, is anticipated to carry out a new wave of significant job cuts on Wednesday. As part of the “year of efficiency” restructuring plan introduced by CEO Mark Zuckerberg, Meta is set to undergo a broader restructuring that includes mass layoffs.
In March, Zuckerberg announced plans to eliminate 10,000 jobs in the near future, with a focus on trimming positions related to “low-priority projects.” This comes in addition to the 11,000 positions that were already cut in November. According to a source cited by Vox, the number of job cuts for this week could be around 4,000. Although the news could not be confirmed by sources, but it is not a surprising development.
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Earlier, Zuckerberg had announced that the April layoffs would target positions in the technology departments, while a subsequent round of job cuts scheduled for May would be focused on the business side. According to a report from Business Insider, it has been suggested that numerous teams and projects within the Facebook app and Reality Labs – the division devoted to virtual and augmented reality – may be terminated in the near future.
Nonetheless, individuals involved in game development could be shielded from this upheaval as Meta strives to promote its metaverse initiative to conventional gamers. Meta and its founder Mark Zuckerberg have been advocating the idea of the metaverse as a virtual space where people can engage in social activities, work, and trade goods and services. In the pursuit of realizing this vision, Meta invested billions of dollars in its social virtual reality (VR) platform called Horizon Worlds.
However, despite the considerable investment, the platform has not gained significant traction, with only about 200,000 monthly active users as of the end of last year. As a result, it could be a strategic move for Meta and Zuckerberg to pivot towards targeting traditional gamers, who may be more receptive to immersive and interactive gaming experiences within the metaverse.
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By doing so, they may be able to increase user engagement and drive adoption of the platform. This could be a significant shift for Meta, as it has previously been focused on positioning the metaverse as a hub for social activities and commerce. However, it could also be a wise move, given the potential for the gaming industry to fuel the growth and development of the metaverse.