News Short: Meta layoffs, scrapping NFTs and starting a new Twitter

Performance Marketing Unlocked · Mar 20, 2023 · 10m

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…