OAKLAND, Calif. (Reuters) – Executives at Meta Platforms Inc., which owns Facebook Inc., said at a staff talk on Wednesday that they had announced 11,000 employees on Thursday. Regarding the reduction, about half of those targeted were in charge of technology. Development of smart displays and smart watches will be discontinued.
Meta executives say the company is reorganizing, merging its voice and video calling division with other messaging teams and creating new departments.
Fifty-four percent of the layoffs were in sales and the rest in technology, said Lori Gourer, head of human resources. The company’s recruiting team has been cut in half.
No additional job cuts are planned, but stressed other spending needs to be cut, executives said. He said he was reviewing outsourcing, real estate and computer infrastructure.
Chief Technology Officer Andrew Bosworth said the smartwatch division will now focus on augmented reality (AR) glasses. He said more than half of the investment in Reality Lab, which is responsible for the Metaverse, will go to AR.
Chief Executive Officer Mark Zuckerberg once again apologized for the job cuts. He explained that he did not expect the company’s first drop in revenue.
*I will add more categories and resend.