Meta Layoffs Continue! Facebook Parent Company Conducts Fresh Round of Job Cuts, 6,000 Employees To Be Axed Globally
These job cuts were part of the company's so-called "Year of Efficiency," in which Meta is being restructured to cut costs, reports TechCrunch. The third round of layoffs affected Meta's business departments.
San Francisco, May 24: Meta on Wednesday conducted a fresh round of layoffs that was set to impact about 6,000 employees globally.
These job cuts were part of the company's so-called "Year of Efficiency," in which Meta is being restructured to cut costs, reports TechCrunch. The third round of layoffs affected Meta's business departments. Meta Layoffs Continue! Facebook Parent Company Begins Third Round of Job Cuts, Employees in Various Business Groups To Be Impacted, Says Report.
Meta Founder and CEO Mark Zuckerberg said in March that the company will cut 10,000 jobs across two rounds of layoffs in late April and late May. 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".
Meta already eliminated 11,000 roles in November last year. In total, about 21,000 people have lost their jobs at the social network across departments. The tech giant cut around 4,000 of the planned 10,000 positions last month, leaving nearly 6,000 positions potentially on the chopping block. Meta Layoffs To Continue: Facebook Parent Company Preparing To Fire 6,000 More Employees in Third Round of Job Cuts.
According to reports, in April, Meta almost wiped out its team dedicated to combating misinformation. At the end of 2022, Meta had around 86,000 employees.
Meta is also no longer listing new remote positions, as managers have reportedly been forbidden from posting new listings with a remote-work option. Zuckerberg has said that after restructuring, Meta plans to lift hiring and transfer freezes in each group.
(The above story first appeared on LatestLY on May 24, 2023 10:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).