More Job Cuts are Planned at Meta Next Week

As per the reports, the layoff phase at Meta (formerly known as Facebook) is still ongoing because more people are expected to lose their jobs next week at the Mark Zuckerberg-owned company. Over 12,000 employees have already been laid go by Meta, and thousands more earned unsatisfactory ratings in their most recent performance reviews, raising the possibility of more layoffs in the near future.

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Meta to meet Financial goals

In an effort to meet its financial goals, Met,a may be considering a second round of layoffs, according to a Bloomberg News article. With its current concentration on the "metaverse," Meta, a former major player in the advertising sector, needs to cut costs.

Almost 10% of the employees managed by Meta received "meets most" ratings in the past, which is the second-worst rating in the company. The lowest rating, "meets some," is rarely given by the company. According to a Meta spokesperson, the ratings were created to encourage excellent work and a focus on long-term goals.