Some Meta Platforms Inc. (NASDAQ:META) employees were directed to work remotely on Wednesday as the company prepares for layoffs.
Employees in the wearables and ads divisions received a short HR email on Tuesday night saying leadership would provide more details, according to a Business Insider report.
The news comes after it was reported that a fifth or more of Meta’s nearly 79,000 employees could be let go, which would amount to roughly 16,000 job cuts. If implemented, it would be the company’s largest workforce reduction since its 2022–2023 restructuring, when Meta eliminated more than 21,000 positions.
Executives Receive Stock Options
The remote work announcement comes as Meta granted equity to seven senior executives on March 20, according to Securities and Exchange Commission filings submitted on Tuesday.
Six executives — …
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