LogInMeta has announced its intention to lay off 10,000 more employees, making it the second round of major job cuts by the tech company in just four months.
Meta, the owner of Facebook, Instagram, and WhatsApp, is set to lay off an additional 10,000 employees, following the 11,000 job cuts that took place last fall.
The company's CEO Mark Zuckerberg announced the news in a memo to Meta's employees that was also shared on the company's website. Meta's planned layoff of 10,000 workers accounts for 11.6% of its total full-time workforce of 86,482 employees as reported at the end of 2022.
Additionally, Zuckerberg said that Meta is also freezing hiring and eliminating approximately 5,000 vacant job positions.
According to the company head, layoffs are part of Meta's measures to "make [it] a better technology company" and "improve [its] financial performance in a difficult environment so we can execute our long term vision."
Meta is planning to reveal its tech groups' reorganization and job cuts in late April, followed by the restructuring and layoffs of the company's business groups in late May. "In a small number of cases", according to Zuckerberg, these changes may take until the end of the year to finalize.
"My hope is to make these org changes as soon as possible in the year so we can get past this period of uncertainty and focus on the critical work ahead," the CEO wrote.
"As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs – and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision," he added.
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