More Meta Layoffs Ahead, Before Zuckerberg's Paternity Leave

Thousands of employees could be let go as soon as this week as company looks to keep flattening
By Polly Davis Doig,  Newser Staff
Posted Mar 7, 2023 1:29 PM CST
More Meta Layoffs Ahead, Before Zuckerberg's Paternity Leave
Mark Zuckerberg speaks at Georgetown University, on Oct. 17, 2019, in Washington.   (AP Photo/Nick Wass, File)

Mark Zuckerberg is set to go on "imminent" paternity leave for the birth of his third child, and another round of his employees are set to go on permanent leave before that, reports Gizmodo. The number of heads to roll isn't clear, but Bloomberg says, citing insiders, that it's potentially "thousands of employees as soon as this week." That's on top of the 11,000, or 13%, of Meta's workforce that was let go in November.

Meta has been working to "flatten" its workforce, per Bloomberg, and has been offering buyouts and axing entire teams it deems redundant since February. Those actions could affect thousands of more workers. Shareholders apparently like the move: Meta's stock was up 2.3% in Tuesday trading, and it's up 54% since the start of the year. As Forbes explains, "Although layoffs can signal a company is struggling, they can also be a positive sign to investors that a company is making moves to remain profitable." (More Meta stories.)

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