Meta plans to launch massive layoffs this week, according to the Wall Street Journal (WSJ)

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Sources told WSJ that layoffs could come on Wednesday

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Meta employees layoffs can take anywhere from 10% to 20%

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The company already started downsizing and cutting expenses in recent months

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The company cut the hiring of engineers by up to 30% in June

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Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit

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Meta said that we can expect it to end as today's organization by 2023 or as little organization from today

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Meta Joins Tech Companies That Are Laying Their Employees Due to the Recession

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Twitter fired 50%, Stripe 14%, and Lyft fired 700 employees

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