Zuckerberg plans mass job cuts across Meta

Meta Platforms Inc. is set to start cutting jobs across the company on Wednesday as it restructures teams and works toward founder Mark Zuckerberg’s goal of greater efficiency this year.

Report informs via Bloomberg that the Facebook parent company told managers that they should prepare for job cut announcements on Wednesday.

The memo indicates Facebook, WhatsApp, Instagram and Reality Labs — which houses the firm’s virtual reality efforts and Quest hardware — will be affected.

The move is part of a cost-cutting push that will eventually eliminate 10,000 positions at the company, as announced by Zuckerberg in March. A further round of cuts is set to follow in May.