Meta Cuts Another 10,000 Jobs As Tech Layoffs Accelerate



ORIGINAL POST
Posted by Ed 15 mths ago

Meta Platforms CEO Mark Zuckerberg wrote in a blog post on Tuesday that the company will "reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired."

 

"Here's the timeline you should expect: over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates," Zuckerberg said.

 

"We will make our organization flatter by removing multiple layers of management," he said in the post, referring to his 'Year of Efficiency' to reduce expenses.

 

Meta employees had been bracing for more layoffs in recent weeks. Last Tuesday, a Bloomberg report outlined the upcoming job cuts. The new round of layoffs adds to a previous round of cuts announced in November of about 13% of Meta's overall staff.

 
https://www.zerohedge.com/markets/meta-cuts-another-10000-jobs-tech-layoffs-accelerate 

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