Meta Platforms says ‘substantially completed’ 2022 employee layoffs

Meta said: "In 2022, we initiated several measures to pursue greater efficiency and to realign our business and strategic priorities. As of March 31, 2023, we have substantially completed the 2022 employee layoffs while continuing to assess facilities consolidation and data center restructuring initiatives. We incurred additional pre-tax restructuring charges of $621M in the first quarter of 2023. In March 2023, we announced three rounds of planned layoffs to further reduce our company size by approximately 10,000 employees across the Family of Apps and Reality Labs segments. In connection with these layoffs, we expect to incur total pre-tax severance and related personnel costs of approximately $1B, of which $523M was recognized during the first quarter of 2023 and the remaining charges will be substantially recorded by the end of 2023."