Meta is planning a major round of layoffs this week that could affect thousands of employees. CEO Mark Zuckerberg describes the layoffs as part of a “Year of Efficiency”, cutting employees that are “no longer crucial”. Zuckerberg also plans to remove layers of middle management to “make decisions faster”. The cuts are an attempt at cost-cutting. The tech company saw a 22% rise in expenses last year, and an overall sales drop of 4%. This comes after Meta announced plans to cut 11,000 staff members last November, 13% of their total number of staff. Meta plans to reinvest the additional revenue into their virtual reality platform, the Metaverse. The division in charge of the technology used for the Metaverse reported a loss of $4 billion in their fourth quarter. Despite the company's message of “efficiency”, reports indicate low morale and heightened anxiety among employees.