Facebook's parent Meta to slash another 10,000 jobs to improve its financial performance
New York, Mar 14 (PTI) Facebook's parent company Meta announced on Tuesday it will lay off another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment".
Meta founder Mark Zuckerberg said in a post that 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.” The company has said that in its “Year of Efficiency”, the company aims to make itself “a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision.” Outlining the “timeline” of its restructuring going forward, Zuckerberg said over the next couple of months, organisation leaders will announce restructuring plans focused on flattening “our orgs, cancelling 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. We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May," Zuckerberg said.
