Meta layoffs, scrapping NFTs and starting a new Twitter – News Short, episode 6

The last week has seen some big news around Meta, following an announcement from its CEO Mark Zuckerberg that it's cutting another 10,000 from its workforce. In a 10 minute episode, we decipher what this means for marketers.

In the past year, Meta has cut almost 30% of its workforce, with 10,000 layoffs adding to the 11,000 in November, and the 5,000 unfilled vacancies closed. 

Zuckerberg announced the restructuring as a 'flattening' of the organisation, removing low-priority projects. This included its recent expansion of NFTs within Facebook and Instagram, which launched testing less than a year ago.

To add to the movements at Meta, the platform is exploring development of a Twitter-like platform, code-named P92, adding even more competition to the current social media landscape.

Listen to this episode for a quick low-down of Meta's moves and what it means for marketers.

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