People familiar with the matter: Meta will launch the first large-scale layoffs in history, thousands of people will lose their jobs

Beijing time on November 7 news, people familiar with the matter said, Facebook parent company Meta plans to start this week large-scale layoffs, will affect thousands of employees. This may be the biggest round of layoffs in the tech industry in recent times after rapid growth during the epidemic.

Meta's layoffs are expected to affect thousands of employees and are scheduled to be announced as early as Wednesday, people familiar with the matter said. According to Meta's earnings report, the company had more than 87,000 employees at the end of September. Meta executives have told employees to cancel nonessential travel starting this week.

The planned layoffs would be the first large-scale layoffs in Meta's 18-year history. While it has cut fewer jobs than Twitter, which laid off about 50 percent of its workforce last week, the number is likely to be the highest among large tech companies this year. This year, the tech industry is downsizing.

A Meta spokesman declined to comment, referring only to CEO Mark Zuckerberg's recent statement that the company would "focus on a few high-priority growth areas." After the company's growth slowed sharply, Zuckerberg first outlined plans to restructure teams and lay off workers in September. Zuckerberg later said Meta in 2023 could be smaller than this year. In September, Meta was reported to be planning to cut costs by at least 10 percent in the coming months, in part through layoffs.