Meta Planning Fresh Round Of Layoffs This Week: Report

Facebook parent Meta has reportedly asked its directors and vice presidents to make list of employees who can be let go in a fresh round of layoffs, according to a Bloomberg report.

The report mentions that the latest layoffs can be finalised in the next week. People involved with the plan are expecting to have the list ready before Meta chief Mark Zuckerberg goes on parental leave.

In November 2023, Meta announced 13 per cent, or more than 11,000 layoffs. The layoff on such a large scale in Meta was taking place for the first time in the company's history.

For sacked employees, Meta had promised to provide six weeks of base pay plus two additional weeks for every year of service as a part of the severance package and all remaining paid time off. Apart from these, employees will get the cost of healthcare for six months.

The fresh round of job cuts at Meta were largely anticipated as Zuckerberg has dubbed 2023 to be the company’ s “Year of efficiency”.