Meta Platforms Inc., the owner of Facebook and Instagram, is planning a new round of layoffs and will lay off thousands of employees as soon as this week, according to people familiar with the matter.
The world’s largest social networking company is eliminating more jobs, up from aDecreased 13% in November to become a more efficient organization. In its first round of cuts, Meta laid off 11,000 workers, its first major layoff. The company is also working to flatten its organization, offering buyout packages to managers and cutting entire teams, Bloomberg News understands.Reported in February, a move that is still being finalized and could affect thousands of employees.