Mark Zuckerberg will begin mass job cuts of Meta’s 87,000-strong workforce on Wednesday, according to people familiar with the matter, in a drastic cost-cutting cull as the social media company grapples with falling revenues and rising competition.
Meta is expected to slash thousands of jobs, several people said. The decision comes as tough macroeconomic conditions have prompted advertisers, its main source of revenue, to curb their spending on the platform.
Employees at Meta, which owns Facebook, Instagram and WhatsApp, will be notified of their employment status via email from 6am Eastern Time on Wednesday onwards, two people said.
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