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Target the inevitable process that was announced a few weeks ago had begun and, as with other big technologies in recent years, it seems that this will continue to affect its workers in the future. Parent company facebook, instagram And whatsapp This began with the first round of layoffs reported in March and will eventually affect the company’s 10,000 employees.
Chain CNBC notes that this initial round of job cuts is focused on technical positions such as software engineers, virtual and augmented reality game programmers, and user experience designers. Jobs in business areas such as finance and law will be cut in May. Other tech firm workers could also be affected next month.
Meta to lay off thousands of employees again
Mark Zuckerberg, the company’s CEO, disclosed the timing of the cuts last month. The move comes after Meta laid off 11,000 people last fall. Two rounds of cuts represent first mass layoffs Targetand Zuckerberg described 2023 as “the year of efficiency,” when the company narrows its focus and theoretically becomes more productive.
Target It’s in dire financial straits, like other major tech companies laying off staff, but it’s also struggling to maintain its badly battered metaverse. The firm continued to invest billions of dollars in the division reality Laboratoriesresponsible for its VR headsets and virtual platforms such as Horizon worldsbut this has yet to result in significant revenue growth.
Meta and its financial crisis
On the other hand, advertising revenue on major social platforms Target they dropped sharply in 2022.
The company’s outlook for the quarter just ended suggests that the worst of recessions may be coming to an end. The results will be announced next week. However, it is not expected that reality labs be profitable, and it may be some time before social enterprises Target rise again significantly.
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Source: RPP
I am Ben Stock, a passionate and experienced digital journalist working in the news industry. At the Buna Times, I write articles covering technology developments and related topics. I strive to provide reliable information that my readers can trust. My research skills are top-notch, as well as my ability to craft engaging stories on timely topics with clarity and accuracy.