Wednesday, March 22, 2023
HomeTechMeta lays off 10,000 more workers due to harsh 'economic reality'

Meta lays off 10,000 more workers due to harsh ‘economic reality’


Meta lays off 10,000 more workers due to harsh ‘economic reality’

Mark Zuckerberg informedthat Meta will lay off another 10,000 workers as it struggles to cope with the “new economic reality” that includes higher interest rates, geopolitical instability and increased regulation. These cuts are part of the “Year of Efficiency,” as Zuckerberg called it. Over the next few months, Meta will be undergoing “a restructuring focused on rounding up organizations, canceling lower-priority projects, and lowering hiring levels.” Reductions of technical groups will take place in April, and business groups in May.

“It will be difficult, but it is inevitable. It will mean farewell to the talented and passionate colleagues who have been part of our success. They are dedicated to our mission, and I am personally grateful for all their efforts. We will support people in the same way as before, and treat everyone with the gratitude they deserve,” Zuckerberg wrote.

These massive layoffs come just four months after Zuckerberg fired last year. 11,000 Meta employees. Mark then corrected the cuts in seats with inaccurate forecasts of revenue growth driven by the Covid-19 pandemic, as well as “macro downturn, increased competition and loss of advertising signal.”

Source: PC Gamer

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