Published , by Morgan Shaver
Published , by Morgan Shaver
Facebook (META) has shared its earnings report for Q4 2022, and included in the report are details on how Reality Labs lost a sizable $13.7 billion in 2022. In addition, it’s noted that a layoff of approximately 11,000 employees took place during the quarter that ended on December 31, 2022, with Reality Labs and FoA employees among those affected.
Not only were Reality Labs employees affected by layoffs, but the total restructuring charges recorded under Meta’s Reality Labs segment amounted to $440 million during Q4 2022.
Difficulties with Reality Labs aside, Meta recorded $32.17 and $116.61 billion, a decrease of 4 percent and 1 percent year-over-year for the fourth quarter and full year 2022, respectively. Employee headcount was reported at 86,482 as of December 31, 2022, an increase of 20 percent year-over-year with the recorded headcount including “a substantial majority of the approximately 11,000 employees impacted by the layoff we announced in November 2022, who will no longer be reflected in our headcount by the end of the first quarter of 2023.”
For more on Meta’s Q4 2022 earnings results, be sure to take a look at the full report. Also read through our coverage including Facebook (META) Q4 2022 earnings results beating revenue expectations.