Report: Facebook to Cut Thousands of Jobs in Latest Corporate Downsizing

February 22, 2023

(Reuters)—Facebook-parent Meta Platforms Inc is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday.

The company did not immediately respond to a Reuters request for comment.

Last year, the social media giant said it will let go of 13% of its workforce, or more than 11,000 employees, as it grappled with soaring costs and a weak advertising market.

Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between top boss Mark Zuckerberg and the company's interns, the Washington Post reported, citing a person familiar with the matter.

(Reporting by Eva Mathews in Bengaluru; Editing by Devika Syamnath)