Meta lays off employees at WhatsApp and Instagram, the Verge reports


FILE PHOTO: FILE PHOTO: Meta logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.

A Meta spokesperson told Reuters in a statement that a few of its teams were making changes to align with their long-term strategic goals and location strategy.

"This includes moving some teams to different locations, and moving some employees to different roles. In situations like these when a role is eliminated, we work hard to find other opportunities for impacted employees," the spokesperson said.

The Verge report did not specify the exact number of job cuts but mentioned that they were small. Meta also did not comment on the numbers.

Separately, the Financial Times reported that Meta fired another two dozen staff in Los Angeles for allegedly using their daily $25 meal credits to instead buy household items including acne pads, wine glasses and laundry detergent.

These terminations are separate from the team restructurings and took place last week, the FT report said.

Meta declined to comment on the FT report.

Meta has slashed around 21,000 jobs since November 2022 to keep costs low with CEO Mark Zuckerberg calling 2023 the "Year of Efficiency".

Meta shares have jumped more than 60% this year.

In its most recent second quarter results, Meta beat market expectations for revenue and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.

(Reporting by Chandni Shah, Shivani Tanna and Shubham Kalia in Bengaluru; Editing by Rashmi Aich)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Utility Entergy says revised Meta data-center deal to deliver higher customer savings
Sony to hike PlayStation 5 prices again as memory chip costs surge
NYSE-parent Intercontinental Exchange invests $600 million in Polymarket
SpaceX's listing stirs up social media frenzy, ticker bets
SoftBank secures $40 billion loan to boost OpenAI investments
Austria plans social media ban for children under 14
‘Life Is Strange: Reunion’ finally arrives this week
VW's software partnership with Rivian clears investment hurdle
Nearly half a million customers hit by Lloyds IT glitch that exposed transaction data, committee says
Apple plans to open up Siri to rival AI assistants in iOS 27 update

Others Also Read