Meta Reportedly Wants to Cut Costs by up to 10% – Including Reducing Workforce

 Meta has already seen its share price plummet of late, and most recently, a new report has surfaced, saying Meta is looking to cut costs by up to 10% in the coming months.

With this move, Meta may reduce the number of employees, including restructuring and reorganizing parts of their company.

In addition, in joint ventures, investment in some parts may also be reduced by Meta.

This year, Meta experienced operational challenges, including showing a decline in user numbers for the first time, including a decline in revenue compared to the previous year.

Some analysts also target that Facebook's revenue will also experience a decline in the third quarter of 2022.

Meta is seen facing fierce challenges from a number of other platforms, including TikTok - in addition to Apple's software updates that restrict user information from being used for advertising purposes.

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