In March, Meta became the first major tech company to announce a second round of mass layoffs, after revealing that it planned to lay off more than 11,000 employees in the fall.
This caused the company to reduce the number of employees to what it was around mid-2021 following the wave of hiring that has doubled its workforce since 2020.
Some employees took to platforms such as LinkedIn on Wednesday to announce their layoffs, in a cycle that was expected to cut advertising, marketing and partnerships sales teams deeply.
Mita shares fell 0.4% in premarket trading.
Chief Executive Mark Zuckerberg said in March that the bulk of the company’s second-round layoffs would come in three “phases” over several months ending largely in May. He explained that some of the small tours might continue after that.
In general, the cuts have significantly affected non-engineering jobs.
Zuckerberg told a meeting that about 4,000 employees lost their jobs in layoffs in April, following more modest cuts in March.
Meta’s employee layoffs came after months of declining revenue growth amid rising inflation and falling digital advertising versus e-commerce during the Corona pandemic.
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