The week is ending just as it began. Meta has just announced a new round of layoffs among its workforce. This news comes 24 hours after the announcement of a new stock award program for senior executives that will net them approximately $921 million over the next five years.
Thus, for its second round of layoffs this year, Meta laid off 700 of its 78,000 employees on March 25. This affects all divisions of the company, including Reality Labs. A spokesperson for the American firm attempted to justify this decision in a statement sent to The New York Times.
“Meta teams regularly restructure or make changes to optimize their chances of achieving their goals. Where possible, we offer alternative opportunities to employees whose positions may be affected.”
