Meta Platforms Inc. (META) has announced layoffs across multiple teams, including Instagram, WhatsApp, and Reality Labs. This move is part of the company’s ongoing ‘Year of Efficiency’ initiative, a shift towards streamlining operations and focusing on long-term goals. This news comes amidst lawsuits filed against Meta for its alleged contribution to mental health issues among teenagers.
Despite initial setbacks and ongoing financial losses, Facebook’s parent company Meta is continuing to invest in its metaverse project. The company’s Reality Labs division recently posted a $3.8 billion loss, but these losses have decreased compared to previous quarters. Zuckerberg remains optimistic about the metaverse’s potential, stating that progress is being made towards fulfilling his long-term vision.
