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Report: Meta to begin "large-scale" layoffs this week
The company formerly known as Facebook is reportedly preparing to cut "thousands" of jobs.
November 7, 2022
1 Min Read
Meta is reportedly planning major layoffs that could affect "thousands" of employees.
That's according to a report from The Wall Street Journal, which states the layoffs could begin on Wednesday, October 9, and will result in "large-scale" job losses.
It's currently unclear which divisions will be affected by the job cuts, but the news comes just months after The Verge obtained a copy of an internal Meta Q&A session with CEO Mark Zuckerberg in which the company founder said there are "probably a bunch of people at the company who shouldn't be here."
Meta, formerly known as Facebook, rebranded last year to better reflect its new goal of wrangling the nebulous notion of the metaverse into reality.
The company has been burning through cash in order to achieve that aim. Meta's latest fiscal report showed its Reality Labs division which houses its game studios and hardware maker Oculus, is losing more money than ever.
The division posted a loss of $3.67 billion over the three-month period ended September 30, 2022, and pulled in just $285 million in revenue.
Despite that, Meta chief financial office David Wehner said the company still intends to "pace Reality Labs investments such that we can achieve our goal of growing overall company operating income in the long run."
About the Author(s)
News Editor, GameDeveloper.com
Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.
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