Meta Looks to Cut Costs by 10% Or More Over Next Few Months, Says Report

The cost cuts at the Facebook parent company are likely to include job reductions due to internal business department reorganizations.

The cost cuts are likely to include job reductions due to internal business department reorganizations as opposed to more formal layoffs. The cost cutting is expected to commence over the next few months.

a 22% year-over-year increase in costs and expenses totaling nearly $20.4 billion. The company has been investing heavily in the metaverse in the hopes that yet-to-be developed technology will lead to massive sales.

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