Facebook parent Meta on Tuesday announced that it would cut another 10,000 jobs, just four months after it let go 11,000 employees. The layoff was confirmed by Facebook founder and CEO in a post on Monday. It was reported earlier that Meta is planning a fresh round of job cuts.
Meta’s Chief Executive Officer Mark Zuckerberg said, “We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired.”
Zuckerberg in his post said that “Meta is building the future of human connection.” He shared two goals for the company’s “year of efficiency”, which includes “to make us a better technology company” and “to improve our financial performance in a difficult environment so we can execute our long term vision.”
“Over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates. With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team. We will let recruiting team members know tomorrow whether they’re impacted,” Meta CEO wrote.
“We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. In a small number of cases, it may take through the end of the year to complete these changes. Our timelines for international teams will also look different, and local leaders will follow up with more details. Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired,” Zuckerberg said.
Zuckerberg added that this will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success.
“After restructuring, we plan to lift hiring and transfer freezes in each group. Other relevant efficiency timelines include targeting this summer to complete our analysis from our hybrid work year of learning so we can further refine our distributed work model. We also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year,” Zuckerberg said.
Just four months before, the social networking company had announced that it was cutting 11,000 roles as part of its ongoing effort to improve efficiency. In total, this implies that since the end of last year, Meta has effectively laid off — or plans to lay off — about one-quarter of its workers.