Meta intends multiple rounds of layoffs, affecting non-engineering positions. Possible 13% cut.
The WSJ reports that layoffs will be publicised in waves, just like the 13% reduction did in 2016.
Meta may cancel some projects and teams and slash non-engineering jobs the most.
Last year, Meta slashed 11,000 jobs, or 13%. New cuts should match those who remain.
Reality Labs, Meta's hardware and metaverse branch, will stop making wearables, the story states.
Although research will continue, Meta is moving away from popularising VR and AR products.
The first round of layoffs is due next week, and the second-quarter total is unknown.
To maximise leverage, we're reviewing Family of Apps and Reality Labs resource allocation.
Finance Overseer Metaphrasis: Layoffs involve terminating projects and reallocating resources.