Facebook and Instagram owner Meta Platforms is reportedly planning to begin layoffs that will affect thousands of workers from this week.
The Wall Street Journal cited people with knowledge of the matter as saying that the job cuts could come as early as Wednesday and that the company has already told employees to cancel non-essential travel from this week.
In September, chief Executive officer Mark Zuckerberg outlined plans to reorganise teams and reduce headcount for the first time following a sharp slowdown in growth. Zuckerberg said at the time that Meta will likely be smaller in 2023 than it was this year.
Last week, Twitter cut nearly 3,700 jobs after Tesla owner Elon Musk completed his $44bn takeover of the social media platform.
