Overview

• Meta has laid off over 20,000 employees since November in four rounds of job cuts affecting recruiting, human resources, engineering, and business teams.
• The latest round of layoffs targeted Meta's business division, cutting 6,000 roles responsible for advertising sales, partnerships, communications, policy, and content moderation.
• Remaining Meta staff report low morale, uncertainty over job responsibilities, and halted productivity as the company restructures.
• CEO Mark Zuckerberg has called 2023 "the year of efficiency" as Meta recovers from slowed revenue growth, competition from rivals, and big losses in its virtual reality division.
• Despite sizable costs cuts, Meta continues heavy investment in artificial intelligence and infrastructure for Zuckerberg's vision of an immersive virtual world known as the metaverse.