Meta Could Face Serious Layoffs Within Months: Report

At Meta, internal chatter about layoffs is reportedly growing.

According to Business Insider, Meta managers are warning teams that layoffs won’t spare even the highest performers. “Zuck’s message was loud and clear: You have three months to prove your worth, put in 200 percent effort, or you can resign now if you don’t like it,” an anonymous worker told the publication.

However, the ultimate scope of layoffs isn’t clear, with internal guesses ranging from 10 percent to more than 20 percent within the next few months. Some teams also face the prospect of reorganization and manager transfers.  

This isn’t the first rumbling of potential cutbacks at Meta. Back in September, The Wall Street Journal reported about the company’s attempts to cut costs by 10 percent, including staff reductions. Those workers cut from reorganized teams would have “a limited window to apply for other roles within the company,” the Journal added at the time—allowing Meta to reduce overall headcount without engaging in formal layoffs.

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If the Business Insider report is correct, Meta now plans on escalating from quiet layoffs and attrition to full-on layoffs. If that scenario comes to pass, it won’t be the only tech giant cutting staff, especially in social media: in September, Snap laid off 20 percent of its workforce as part of an aggressive cost-cutting strategy.

Meta faces a handful of aggressive challenges in the years ahead. Apple’s new iOS privacy controls have limited the company’s ability to effectively monetize user data, reducing its income by billions. In addition, Meta CEO Mark Zuckerberg’s dedication to growing the “metaverse”—an ecosystem of augmented reality (AR) and virtual reality (VR) apps—will continue to cost the company billions well into the future. And if that wasn’t enough, up-and-coming social networks such as TikTok will continue to challenge Meta’s core business.

To navigate these challenges (and eventually make a profit from the metaverse), Meta will need incredibly skilled, highly specialized technology professionals. Ultimately, the company can’t cut its way to growth—it will need to hire.

One Response to “Meta Could Face Serious Layoffs Within Months: Report”

  1. jake leone

    A while ago, in a decade far far far away, George Lucas said future movies will be compelling and produced by people in their garage.

    CONTENT WARS

    YouTube, TikTok, even META are the product of this. By pure luck, Zuckerberg happened into this revolution. And that is clear, it was luck, because he doesn’t see the straight line path. He is diverting his company down a niche path, headset gaming. Headsets are literally something a smaller hardware company should be working on, not a major platform which needs to stay paranoid and keep attracting users.

    Ten years from now, the Content Wars will have a Death Star. And it will be capable generating new episodes, of any tv show you have ever seen. Companies that have a head start on this, are going to be in control of a compelling platform, that will be the killer app that can build that platforms user base (and sell stuff to the masses, with product placement ads). Companies that do not adapt to that platform, will become the Wards/Sears of their time. Many will become irrelevant if they are not competitive in that space.

    (keep in mind, when I say animation below, I mean even ultra-realisty animation that could pass for live acted video content).

    So the problem with the Metaverse are:

    * There is no compelling reason for consumers to buy a headset, for 1500$. Headsets are a distraction and a diversion, of the most important company resources.

    * Other software companies are not signing on to develop for the Metaverse. The gaming in the metaverse, resembles office meetings. Small, cheap games, adapted from cheap 2d games.

    Okay, so I really feel (and frankly I think it is obvious), that it is Mark Zuckerberg’s fascination with 3d goggles that is driving this, distraction/diversion. Since Mark doesn’t have to answer to anyone, he can simply spend 10 billion on it, and no one can vote him out for it.
    If the Metaverse fails to make money, Mark can simply keep funding it by gutting other departments. For 2 decades of permanent distraction, and wasted opportunity, while other companies leap ahead of Meta.
    What the Metaverse needs is a compelling application for it. What it needs, and would obviate other software companies, would be Automatic Content Generation. Investing in ACG, would not cost tens of billion, but 2 billion invested in ACG, could result in an ability to entice users to the Metaverse. From there, it could become obvious, that it is attracting user, and so will need to get on a perpetual upgrade cycle, that will attract billions of users.
    The main areas of tech expansion, that need to be resolved to a functional ACG user platform, are animation, writing, music, and voice. Meta, is tackling animation a little. But voice generation is still costly to do and not adapted to ACG yet.
    Will Meta do this all the way?
    Without ACG, in the Metaverse, the metaverse will not take off. It might ebb indefinitely losing hundreds of millions each year.
    But with an ability to:
    – Create animated video (even ultra-realistic animations that could pass (or come close) to live acted television, with voices and music).
    Users would be enticed to the Metaverse, without glasses. Then selling them the glasses could be more easily accomplished, sure but it will always be niche. Glasses might be superseded by large scale holographic display projection (which exist, right now, but in a small form, see the company webpage of Light Field Lab a San Jose startup, with an actual holographic projector).
    Every platform needs that killer app, that only it has. The MAC had WYSIWIG. PCs in general had the internet.
    Without that, why pay 1500$ for a set of goggles. Eventually ACG will be so good, that every PC will have the power to generate content. At that point, if the Metaverse isn’t hooked in with tools to match the coming ACG arms race, the Metaverse will simply be bypassed.
    You can, already, from a prompt, conjure a picture of any celebrity in some scene of “The Road Warrior” (originally starring Mel Gibson). With animation added, such generator could generate a scene. With coherent writing masted by ACG machines, it could generate an episode. With desktop voice simulation (already available, at a high cost to consumers) any actor (or new character to avoid royalties) could be simulated. Compelling music is something they are working on.
    Ten years from now, the entire movie industry will be something that people DO/MAKE on their laptop.
    Tell me, at that point in time, how is wearing some headset (and paying a high cost for it, although it should get a little cheaper), going to be a compelling past time activity, when you are watching the 99,217th season of Rick and Morty (or any other TV series, already imagined or to be imagined), which you just generated on your desktop PC?
    Or put it another way, would a platform capable of such ACG have more users than the metaverse (without ACG) or fewer? I’d say, it will have billiions more attracted to ACG over a headset and goggles where you play old time games.
    If you can sell to the masses then that is where the big new companies and platforms (10 years from now all Trillicorns) are going to be. They won’t be in niche apparel, developed by a self absorbed nerd for 10 billion$, that some (a few will want) but most will toss and do without, because they don’t need it.
    And the problem with META right now, is their CEO simply doesn’t see that, and can’t divert a few billion to developing it, because he is throwing it all in to his new toy headset, which he has become enthralled with.
    Ditch the headset (or freeze it for a while, probably forever, because holographic project will supercede it). Spend billions on ACG. Make it available on a platform (say the Metaverse). Grow a huge user base.
    Sell to the masses, zero niche hindrance. Complete market saturation (since practically everyone watches TV), ACG isn’t going to be a niche market. ACG will be the entire media industry, 10 years from now.
    Paraphrasing Darth Vader, “Nothing is can stop that now”.