Meta Layoffs: Another round of job cuts coming soon? More pink slips to Facebook, WhatsApp and Instagram employees? What we know so far
Meta Layoffs: Meta Platforms Inc. is expected to conduct another mass round of companywide layoffs this week as the tech giant plans to restructure teams and work toward founder Mark Zuckerbergs goal of greater efficiency. As announced by Meta CEO Mark Zuckerberg in March, the company will eliminate 10,000 positions as part of its cost-cutting measures. A further round of job cuts is set to follow in May. As per the Bloomberg report, the Facebook parent company notified managers to prepare to announce job cuts on Wednesday, via a memo. The latest job cuts will impact Facebook, WhatsApp, Instagram and Reality Labs, which houses the firms virtual reality efforts and Quest hardware.Zuckerbergs comments have suggested that the company would aim to become more lean and rebalance its ratio of technologists and engineers to business and administrative staff, reported Bloomberg. The memo circulated to managers indicates that teams will be reorganized and various remaining employees will be reassigned to work under new managers. Meta will also ask all employees in North America who can work from home to do so on Wednesday, in order to have time to process the news, the document said. A spokesperson of the company declined to comment on the matter, pointing to Zuckerbergs year of efficiency post in March that said we expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. Meta cut 10,000 employees in second round of job cutsover 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. With less hiring, Ive made the difficult decision to further reduce the size of our recruiting team, Zuckerberg said Meta employees in a statement released in March. We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. In a small number of cases, it may take through the end of the year to complete these changes. Our timelines for international teams will also look different, and local leaders will follow up with more details. Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we havent yet hired, the Meta CEO added. Meta announced 11,000 layoffs in NovemberIn November, Meta had announced to cut about 13 per cent of its global workforce, or about 11,000 jobs. It also extended a hiring freeze through the first quarter, which has been punctuated by job and cost cuts by other Silicon Valley businesses, reported Bloomberg.
Wednesday, April 19, 2023 at 6:40 am