Meta, parent company of Facebook and Instagram, is pink-slipping another 10,000 employees, coming on the heels of laying off 11,000 last fall. Mark Zuckerberg, Meta’s co-founder and CEO, anno…
, Meta’s co-founder and CEO, announced the planned cuts in a memo to employees Tuesday as an “update on our Year of Efficiency.” The 10,000 layoffs represent 11.6% of the 86,482 full-time employees Meta reported as of the end of 2022.
With the new round of layoffs, Meta said it now expects full-year 2023 total expenses to be in the range of $86 billion-$92 billion, lowered from $89 billion-$95 billion previously, it 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. 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.
Simply put: if you want to invent the future or apply the best ideas to reach people at the greatest scale, then Meta is the best place to do that. A leaner org will execute its highest priorities faster. People will be more productive, and their work will be more fun and fulfilling. We will become an even greater magnet for the most talented people. That’s why in our Year of Efficiency, we are focused on canceling projects that are duplicative or lower priority and making every organization as lean as possible.We are a technology company, and our ultimate output is what we build for people. Everything else we do is in service of that.
Our developer tooling work is underway and seeing good results. For example, Buck2 is our new open source build system that compiles builds around 50% faster so engineers can spend more time iterating and less time waiting. Our analysis found that engineers whose builds were sped up by Buck2 often produced meaningfully more code.We’re committed to distributed work. That means we’re also committed to continuously refining our model to make this work as effectively as possible.
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