Meta could lay off upto 4,000 employees this week, says report

Meta, formerly known as Facebook, is reportedly preparing to undertake another round of mass layoffs this week, according to Vox, which cites "several sources working at the company".

The job cuts are part of a wider restructuring at Meta, which CEO Mark Zuckerberg has referred to as the "year of efficiency".

In March, Zuckerberg announced that the company would be cutting 10,000 jobs, particularly those related to "low priority projects". These cuts are in addition to the 11,000 jobs that were eliminated in November.

The latest news of layoffs, while still to be confirmed by the company, is not unexpected. In fact, Zuckerberg had previously stated that April's cuts would impact tech departments, while another round of layoffs planned for May would affect the business side.

Reports suggest that this week's layoffs could potentially result in the elimination of around 4,000 jobs. Many speculate that projects and teams within the Facebook app and Reality Labs, the unit dedicated to augmented and virtual reality experiences, will be hit hard.

According to a report from Business Insider, employees working on developing games may be spared for the time being, as Meta seeks to market its metaverse to traditional gamers.

The shift towards marketing the metaverse to gamers could prove to be a strategic pivot for Meta and Zuckerberg. Both have previously promoted the metaverse as a space for social interactions, work, and e-commerce. Meta has invested billions into its social VR platform, Horizon Worlds, which has struggled to gain traction with only about 200,000 monthly active users reported at the end of last year.