The news: Meta’s “year of efficiency,” which started in early 2023, is extending into two as the company continues to restructure some of its biggest businesses, with layoffs coming to WhatsApp, Instagram, and Reality Labs.

Meta is enacting layoffs a few months after it reported a Q2 net quarterly income of $13.47 billion and reached 73% YoY revenue growth, up from $7.79 billion in Q2 2023.
While it didn’t disclose the total number of cuts, 100 employees in engineering and business roles were reportedly let go, per Fortune.

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Meta’s ‘year of efficiency’ shifts to a permanent strategy as layoffs, restructuring persist

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