For the second time this year, Meta has let go of hundreds of employees in a wave of mass layoffs.
First reported by The New York Times and The Information, the latest round of job cuts spans various divisions within the company, including Reality Labs. It also comes just a day after announcing a new stock program for top executives that increases their potential pay by up to $921 million over the next five years.
Employees impacted by the layoffs were notified on March 25.
In a statement to The New York Times, a Meta spokesperson said that this is part of a standard process for the company.
“Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals,” they said. “Where possible, we are finding other opportunities for employees whose positions may be impacted.”
This isn’t the first set of layoffs for Meta. Earlier this year, as the company decided it would rather pivot more to AI than the “Metaverse”, the company laid off 10% of its staff at Reality Labs.
Those layoffs led to the closure of multiple studios, such as Deadpool VR developer Twisted Pixel Games, Ashard’s Wrath developer Sanzaru Games, and Armature Studio. Sanzaru was working on the sequel to Batman: Arkham Shadow, but that has since been canceled with the studio’s closure.
Meta currently employs over 78,000 people, making these layoffs small in terms of impacted employees. Still, for those losing their jobs, it comes at a time when the job market continues to shrink as the cost of living rises.
What do you think about the new round of layoffs at Meta? Leave your thoughts in the comments below, and in this official Insider Gaming Discord.
In other news, read about Sony announcing major price increases for its PlayStation hardware. And for even more Insider Gaming delivered directly to your inbox, sign up for our newsletter.
Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of…
More from Mike Straw
