Labor & Workforce

Meta to cut 10,000 jobs in 2nd round of mass layoffs

New York, US, Mar 14 (EFE).- Meta, the parent company of Facebook, Instagram and Whatsapp, will lay off 10,000 workers in the coming months, the US tech giant said Tuesday.

The company also said it was abandoning plans to fill some 5,000 openings.

It is Meta’s second round of layoffs after the company announced in November it was cutting 11,000 positions – 13% of its workforce – to reduce costs.

“This will be tough and there’s no way around that,” Zuckerberg said in a statement, which said the layoffs were part of Meta’s “Year of Efficiency,” which will improve its financial performance “in a difficult environment.”

In the statement, Zuckerberg said restructuring plans would be unveiled in the next two months that would see low-level priority projects shelved and new hiring frozen.

“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,” he said.

In November, the US social media giant announced the first major round of layoffs in its history after seeing strong growth during the pandemic.

Other leading tech companies, including Google and Amazon, have also laid off thousands of workers in the past year.

In 2022, Meta saw its annual profits plummet 41% to $23.2 billion, with a small decline in revenue and a significant increase in costs. EFE


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