Meta is laying off another 10,000 employees
Mark Zuckerberg has announced that Meta, the parent company of Facebook, will lay off 10,000 more employees(opens in new tab) and eliminate 5,000 currently-unfilled positions as it struggles to cope with a «new economic reality» that includes higher interest rates, geopolitical instability, and increased regulation.
The cuts come as part of what Zuckerberg called Meta's «Year of Efficiency,» which over the next couple of months will see «restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates.» Employees of Meta's recruiting team will be told whether they still have jobs tomorrow, while cuts to tech groups will occur in April, followed by business group layoffs in May.
«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,» Zuckerberg wrote. «They've dedicated themselves to our mission and I'm personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve.»
A major goal of Zuckerberg's «Year of Efficiency» is to make Meta «flatter» and «leaner,» which means eliminating layers of management and «cancelling projects that are duplicative or lower priority.» Zuck also wants to ensure that technology is Meta's priority, which means «returning to a more optimal ratio of engineers to other roles.»
«It's important for all groups to get leaner and more efficient to enable our technology groups to get as lean and efficient as possible,» he wrote. «We will make sure we continue to meet all our critical and legal obligations as we find ways to operate more efficiently.»
The word «efficient»
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