Facebook's parent company Meta is preparing to layoff thousands of its employees starting this week according to a new report from The Wall Street Journal.
The move will come after massive layoffs at Twitter last week which included the massive headcount reduction of nearly half of their entire workforce.
Zuckerberg in Meta's latest earnings call claimed some of their teams will grow meaningfully while other teams will stay flat or shrink.
The company has come under a lot of backlash as well as lost a lot of money recently. A lot of this has to do with Zuckerberg's focus on the Metaverse which resulted in the renaming of the company and their new mission of creating the Metaverse.
Meta's shares have also fell by 73% this year making them the worst performer in the S&P 500.
