Facebook's parent company Meta planning fresh layoffs , Report says

Facebook's parent company Meta Platforms Inc is planning fresh job cuts. According to the report of the Washington Post, the company is preparing to do so as part of the exercise of restructuring and cast cutting. Thousands of employees may be affected by the layoff. The company did not immediately respond to a Reuters request for comment on the matter.

Significantly, Mark Zuckerberg, CEO of Facebook's parent company Meta, had indicated more layoffs in the company's internal meeting last month. This came to light a few months after the company terminated more than 11,000 jobs. According to reports, during this time Zuckerberg also discussed the development of AI tools like ChatGPT which will help engineers and non-engineers in coding.