Meta Platforms (NASDAQ: META), the company that owns the popular online job search platform Meta Jobs, has announced another round of layoffs, this time affecting an estimated 10% of its workforce. The company has been struggling in recent months, and this latest round of cuts is just the latest sign of trouble.
Meta Jobs has been a popular destination for job seekers for years, but the company has been facing increasing competition from newer, more nimble startups. In addition, the rise of the gig economy and the growth of freelancing platforms like Upwork have made it easier for people to find work without going through a traditional job search.
Meta Platforms is far from the only company struggling in the current climate. Many startups have been forced to lay off staff or shut down entirely in recent months. However, the company's troubles are a reminder that even well-established businesses can be vulnerable in today's economy.
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Job cuts are coming to Meta
According to a report from UploadVR, which cites "multiple sources close to the company," Meta is planning to cut a significant number of jobs as soon as next week. The report says that the job cuts could be as high as 30% of the company's workforce, which would amount to around 60 people.
Meta has been through a number of layoffs in the past year, and the company has been struggling to find its footing. In October, Meta announced that it was shutting down its hardware division and laying off a number of employees.
It's not clear what the latest round of job cuts will mean for Meta's future, but it's clearly not a good sign for the company. We've reached out to Meta for comment and will update this story if we hear back.
More job cuts are coming
Citing sources familiar with the matter, The Information reports that the company is planning to cut a significant number of jobs as soon as next week. It's not clear how many jobs will be cut, but the report suggests that it could be a "significant" number.
This is just the latest in a string of job cuts at Meta. In February, the company laid off 30% of its workforce, and in May, it announced another round of layoffs, this time affecting an undisclosed number of employees.
The company has raised over $73 million from investors, but it has yet to bring a product to market. The Meta 2 headset, which was first announced in 2015, has been delayed several times and is now not expected to ship until early 2018.
With each passing day, it seems increasingly unlikely that Meta will be able to turn things around. The company has burned through millions of dollars with little to show for it, and it's now facing even more layoffs. It's hard to see how Meta can survive much.
Meta is in trouble
Meta is in trouble. The company has been shedding jobs left and right, and it doesn't seem to be slowing down. In fact, according to sources close to the company, Meta is planning another round of job cuts, which could come as soon as next week.
This is bad news for Meta employees, who are already feeling the pinch. And it's not just the job cuts that are worrying them - it's also the fact that Meta seems to be losing its way. The company has been through a lot of changes in recent years, and many employees feel that it's no longer the same place it used to be.
If Meta wants to turn things around, it needs to start by stabilizing its workforce. Otherwise, it's going to have a hard time attracting and retaining talent. And that's going to make it even harder to turn things around.
What does this mean for the future of Meta?
This news is yet another blow to the struggling Meta platform. Job cuts are always difficult, but they may be necessary in order to keep the company afloat. It's unclear what the future holds for Meta, but it's certainly not looking bright. Only time will tell if the company can turn things around. In the meantime, those who are affected by these job cuts will have to find new employment. Hopefully, they will be able to do so quickly and easily.