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Facebook parent Meta plans for another 10,000 layoffs

Facebook parent Meta

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Facebook owner Meta has announced 10,000 job cuts in its second round of layoffs.

The company’s recruiting team will be hit this month, followed by tech and business groups in April and May.

The second round of staff reductions are part of what CEO Mark Zuckerberg calls 2023 the “year of efficiency.”

Read More: Meta rumored to be planning latest batch of job cuts after losing 11,000 employees

In November, Meta axed over 11,000 employees or about 13 percent of its workforce.

In a memo, Zuckerberg said Meta plans to close about 5,000 unfilled job vacancies.

The Facebook parent will also end an analysis of its hybrid return-to-office model this summer, which started testing last March.

Mr. Zuckerberg is laying off staff after years of rapid hiring, as his firm stuffed workers at the Meta-owned app Whatsapp.

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The November layoffs largely targeted the business units and recruiting teams and Mr. Zuckerberg warned of further downsizing.

On an earnings call in February, the CEO said he didn’t want the firm to be swamped with a layer of middle management, or “managers managing managers.” 

He accepted the blame for the previous job losses, mentioning his eagerness to expand headcount during the pandemic surge.

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Meta’s layoffs are part of a spate of staff cuts from the Big Tech companies. 

In recent months, Amazon, Google, Microsoft, Salesforce, and others have also said they are shrinking their ranks.

Some firms have boosted the number of people they are culling after initial announcements. 

Source: The New York Times

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