Meta has announced a new round of layoffs due to restructuring. As a result, about 10,000 employees of the social media giant will be laid off. Five thousand open jobs will also remain unfilled for the time being.
The new round of layoffs is a follow-up to the employee reduction announced four months ago. In November last year, Meta announced 13 percent job cuts (11,000).
Further restructuring necessary
In a memo to his employees, CEO Mark Zuckerberg states that further restructuring of operations is necessary. It means hiring fewer staff and discontinuing low-priority projects.
It also means making the company “flatter” so it can operate more efficiently in a difficult market. In particular, the social media giant is suffering from declining revenues from digital ads.
The new round of layoffs is taking place in a number of phases. In the first phase, which already starts this week, Meta is going to make significant cuts in its recruitment department. Mainly because five thousand open positions will not be filled for the time being. Layoff rounds for the rest of the employees will then follow in the months of April and May.
In some cases, this process will last until the end of 2023. There are also other timelines for layoffs at Meta’s international offices, Zuckerberg indicated.
After the round of layoffs, job openings will be reopened and employees within the social media giant itself can also look for another position, is the plan. At the same time, Meta is also going to revamp its developer tooling and organizational processes to increase the productivity of its developers and engineers.
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