Meta plans to lay off around 10 000 employees and close about 5 000 additional open roles in its second major round of job cuts in the past six months. Moneyweb JobCuts
Meta plans to lay off around 10 000 employees and close about 5 000 additional open roles in its second major round of job cuts in the past six months. The Facebook parent company has been marketing 2023 as a “year of efficiency” in an effort to improve its financial performance and achieve longer-term goals. As part of those efforts, Meta is flattening the organisation, canceling lower priority projects and slowing hiring, Chief Executive Officer Mark Zuckerberg said in a statement on Tuesday.
Meta’s employee ranks expanded dramatically during the Covid-19 pandemic as demand for the company’s digital services increased and Zuckerberg leaned into the moment. The social media giant’s headcount grew 30% in 2020, the first year of the pandemic, and then 23% in 2021. By the time Meta starting eliminating jobs last November, the company had more than 87 000 employees.
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