Mark Zuckerberg fires 10,000 more employees in 2nd round of layoffs
Meta Founder and CEO Mark Zuckerberg on Tuesday announced to sack an additional 10,000 employees via several job cut rounds.
New Delhi: Meta Founder and CEO Mark Zuckerberg on Tuesday announced to sack an additional 10,000 employees via several job cut rounds in the coming months.
In a Facebook post, Zuckerberg said 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” in the company’s “year of efficiency”.
In a separate filing with the US SEC, Meta said the new job cuts will lower the high end of its expense guidance for the year by $3 billion.
Over the next couple of months, organisation leaders will announce restructuring plans focused on flattening the organisations, cancelling lower priority projects, and reducing hiring rates.
“We will let recruiting team members know tomorrow whether they’re impacted. We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May,” the Meta CEO said.
In a small number of cases, it may take through the end of the year to complete these changes, he added.
“Our timelines for international teams will also look different, and local leaders will follow up with more details,” said Zuckerberg.
The fresh cuts come just four months after he laid off 11,000 employees, or 13 per cent of the company, in November last year.
Zuckerberg said that after restructuring, Meta plans to lift hiring and transfer freezes in each group.
“Other relevant efficiency timelines include targeting this summer to complete our analysis from our hybrid work year of learning so we can further refine our distributed work model. We also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year,” he added.
In its ‘Year of Efficiency’, Meta will make the organisation flatter by removing multiple layers of management.
“As part of this, we will ask many managers to become individual contributors. We’ll also have individual contributors report into almost every level — not just the bottom — so information flow between people doing the work and management will be faster,” Zuckerberg noted.