Meta laid off 1.5K HR employees as part of its second downsizing round

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Meta Platforms, Inc. (NASDAQ: META) announced planned job cuts, beginning with 1,500 recruiting and human resources employees.
During an internal meeting with employees, CEO Mark Zuckerberg informed employees that the economic climate of layoffs and restructuring could last “several years,” according to Bloomberg. reports Citing familiar sources.
Meta informed officials about the first wave of cuts on Thursday morning.
Read also: Apple joins cost-cutting campaign, bonuses, ease of recruitment
However, Meta has not yet notified all affected people. For example, layoffs in engineering are likely to happen in April.
On March 14, Zuckerberg shared plans to lay off nearly 10,000 employees. Eliminating 5,000 open roles as part of its second downsizing round, Meta laid off 11,000 people, or 13% of its workforce, in November.
Zuckerberg told employees on Thursday that these cuts were more tied to performance, but the recent cuts were reportedly due to financial need and product priorities.
Price Action: META shares traded at $201.75 premarket, down 1.55% on the last check Friday.