Meta is reportedly laying off employees across several divisions, including Instagram, WhatsApp, and Reality Labs, according to a report by The Verge on Wednesday, citing sources familiar with the situation.
In a statement to Reuters, a Meta spokesperson confirmed that some teams were undergoing changes to better align with the company’s long-term strategic goals and location strategy.
“This includes moving some teams to different locations, and moving some employees to different roles. In situations like these when a role is eliminated, we work hard to find other opportunities for impacted employees,” the spokesperson said.
The Verge report did not disclose the exact number of layoffs but noted that the cuts were small. Meta has not commented on the figures.
Separately, the Financial Times reported that Meta recently terminated an additional two dozen employees in Los Angeles for allegedly misusing their daily $25 meal credits to purchase household items such as acne pads, wine glasses, and laundry detergent.
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These firings are unrelated to the team restructurings and occurred last week, according to the FT report.
Meta declined to comment on the FT report.
Meta has slashed around 21,000 jobs since November 2022 to keep costs low with CEO Mark Zuckerberg calling 2023 the “Year of Efficiency”.
Meta shares have jumped more than 60% this year.
In its most recent second quarter results, Meta beat market expectations for revenue and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.
