Mark Zuckerberg’s Metaverse is at fault for the biggest layoff in Facebook history

Meta, the parent company of Facebook, is planning massive layoffs this week. The media responsible for the leak said on Monday that thousands of Meta employees would be affected. In September, Meta had over 87,000 employees.

This round of layoffs will be the first of its kind in the company’s history. The announcement is expected to take place on Wednesday this week. As experts explain, the company wants to prioritize the metaverse to the detriment of other areas.

Meta CEO Mark Zuckerberg recently spoke about the company’s priorities during Meta’s third-quarter earnings report. That’s where he signaled layoffs were coming.

“In 2023, we will focus our investments on a small number of priority growth areas. This means that some teams will grow significantly, but most others will remain unchanged or shrink over the next year.Zuckerberg explained.

This will mean that the teams working in the metaverse and their business will not be affected., obtaining new contracts and increasing the workforce. But the rest of the teams dedicated facebook, whatsapp or Instagram Yes, they can decrease.

The metaverse is the culprit, and WhatsApp and Instagram are paying the price.

Meta’s stock has fallen more than 70% this year, and the trade media has attributed it to Zuckerberg’s strong belief in the metaverse. These include Horizon Worlds, the company’s flagship metaverse offering, and Reality Lab, the company’s AR and VR headset division.

The news comes after Twitter led a wave of layoffs last week as Elon Musk acquired the social media company. The tech sector as a whole is facing this trend of mass layoffs: from Microsoft to Twitter, via Facebook.

It is worrying that the technology sector, which brings in the most money in the world, is responding to the global crisis and inflation by laying off thousands and thousands of workers. In the case of Meta, those who will pay will be employees of Facebook, Instagram and WhatsApp.