In an effort to cut costs and resolve the company's economic troubles, Meta is expected to lay off thousands of workers this week. According to the report, these layoffs could potentially result in the largest workforce reduction in the company's history. Furthermore, there have been reports that Meta's shareholders have been dissatisfied with Zuckerberg's large spending on the metaverse project, and the shareholders have requested the company conduct layoffs and trim spending costs. The upcoming layoffs at Meta align with the recent increase in layoffs at other large tech companies as well, such as Twitter.
See "Layoffs continue to sweep the tech industry as Meta expected to fire thousands of workers this week", Thomas Barrabi, New York Post, November 7, 2022