Sunday, May 19, 2024

Facebook Parent Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week

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Social-media company’s planned cuts expected to affect many thousands of its workforce

Meta Platforms Inc. is planning to begin large-scale layoffs this week, according to people familiar with the matter, in what could be the largest round in a recent spate of tech job cuts after the industry’s rapid growth during the pandemic.

The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.

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