Meta (NASDAQ:META) has kicked off its third round of layoffs as part of a wider cost-saving plan.
This round of layoffs targets the company’s business groups, with 10,000 employees expected to lose their jobs across the second and third rounds of cuts.
Earlier this year, Meta CEO Mark Zuckerberg announced that this year will be Meta’s “year of efficiency” and announced a multi-billion dollar cost-saving plan to allow Meta to better withstand the tough macroeconomic situation.
Meta continues to invest heavily in the Metaverse, despite its push to slim down and become more efficient.
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