Meta is set to implement layoffs affecting 168 employees in Washington state, as revealed in a filing to the state Employment Security Department. The affected positions mainly reside in Seattle, Redmond, and Bellevue, with a portion of the workforce also working remotely. These job cuts are part of a larger trend of workforce reductions across the company.
The layoffs will commence on May 8, impacting roles in engineering, product management, management, and recruiting, with a significant number of cuts in the Reality Labs division, which focuses on augmented and virtual reality technologies. This follows a previous announcement in January when Meta disclosed layoffs affecting 331 employees in the same state, primarily related to the Reality Labs segment.
Despite these reductions, Meta has reported an 85% increase in average revenue per employee over the past three years, attributed to enhanced productivity through workforce adjustments and greater reliance on artificial intelligence. This announcement coincides with a new stock compensation program for top executives, which could potentially boost their earnings by up to $921 million each over the next five years.