After Twitter, Meta To Begin Layoffs!

Meta is the latest in a string of technology companies to announce layoffs.

Meta, the owner of Facebook and Instagram, will begin large-scale layoffs this week, according to the Wall Street Journal.

The layoffs come as Meta struggles with growing losses and as it invests heavily in developing its metaverse business. Its shares have fallen 73% this year.

The platform declined to comment about the layoff but referred to CEO Mark Zuckerberg’s re­cent state­ment that it would “fo­cus our in­vest­ments on a small num­ber of high pri­or­ity growth ar­eas.”