Meta is reportedly planning main layoffs that might have an effect on “hundreds” of staff.

That’s in keeping with a report from The Wall Street Journal, which states the layoffs may start on Wednesday, October 9, and can end in “large-scale” job losses.

It’s at present unclear which divisions will probably be affected by the job cuts, however the information comes simply months after The Verge obtained a replica of an inside Meta Q&A session with CEO Mark Zuckerberg by which the corporate founder stated there are “most likely a bunch of individuals on the firm who should not be right here.”

Meta, previously often called Facebook, rebranded final yr to higher replicate its new purpose of wrangling the nebulous notion of the metaverse into actuality.

The firm has been burning via money with a view to obtain that goal. Meta’s newest fiscal report confirmed its Reality Labs division which homes its recreation studios and {hardware} maker Oculus, is shedding extra money than ever.

The division posted a lack of $3.67 billion over the three-month interval ended September 30, 2022, and pulled in simply $285 million in income.

Despite that, Meta chief monetary workplace David Wehner stated the corporate nonetheless intends to “tempo Reality Labs investments such that we will obtain our purpose of rising general firm working revenue in the long term.”