Meta to lay off 10,000 people

Meta has announced that it will lay off 10,000 people. “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,” said Mark Zuckerberg in a blog post, titled Meta’s year of efficiency, addressed to the Meta employees.
It is part of the restructuring plans focused on canceling lower priority projects, and reducing hiring rates. “With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team. 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. 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,” he said.
“This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success. They’ve dedicated themselves to our mission and I’m personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve,” Mark announced.
After restructuring, he added, 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,” Mark added.
He announced that Meta is working on some of the most transformative technology the industry has ever seen. The company’s single largest investment is in advancing AI and building it into every one of its products.
“We have the infrastructure to do this at unprecedented scale and I think the experiences it enables will be amazing. Our leading work building the metaverse and shaping the next generation of computing platforms also remains central to defining the future of social connection. And our apps are growing and continuing to connect almost half of the world’s population in new ways. This work is incredibly important and the stakes are high. The financial plan we’ve set out puts us in position to deliver it,” he said.