Saturday, March 2, 2024

Meta to cut another 10,000 global jobs, Zuckerberg says

Must read

The latest layoffs are on top of the 11,000 announced in November to cut costs in Meta’s ‘year of efficiency’.

Meta has announced a second major round of layoffs in four months, with plans to cut 10,000 jobs globally.

This is in addition to the job cuts Meta announced in November that affected 11,000 employees – including 300 in Ireland.

CEO Mark Zuckerberg told employees today (14 March) that restructuring plans will be revealed to employees over the next couple of months with the aim to “cancel lower priority projects” and reduce hiring rates.

“With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team,” he said in the statement, also shared on his Facebook profile.

“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 some cases, the changes may take until the end of the year to complete, with timelines for international teams being different from those in the US. Meta employs around 2,600 people in Ireland.

Overall, the layoffs will impact 10,000 employees, and an additional 5,000 open roles that haven’t been filled yet will be closed.

The move is part of Zuckerberg’s vision for 2023 as a ‘year of efficiency’ for Meta. Last summer, a recording of an employee Q&A with the CEO was obtained by The Verge.

On it, he reportedly remarked: “There are probably a bunch of people at the company who shouldn’t be here.”

In his latest message to employees, Zuckerberg said the rationale behind the layoffs is to build “a leaner, more technical company” and improve business performance to “enable our long term vision” of being leaner, more efficient and technology-focused.

“In terms of how we should operate during this period, I encourage each of you to focus on what you can control. That is, do great work and support your teammates,” he wrote.

10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.

Latest article