Meta plans to fire 10,000 employees in second round of mass layoffs

15 March, 2023 | Vaishali Sharma

Meta shares take a nose dive World

Facebook-parent Meta Platforms said it would cut 10,000 jobs, just four months after it let go 11,000 employees; first big tech company to announce a second round of mass layoffs.

Facebook-parent Meta Platforms said it would cut 10,000 jobs, just four months after it let go 11,000 employees; first big tech company to announce a second round of mass layoffs.

According to CNN, Facebook parent Meta plans to lay off another 10,000 workers, marking the tech giant’s second round of significant job cuts in four months. The latest layoffs, announced on Tuesday, come after Meta announced in November that it would eliminate roughly 13% of its workforce, or 11,000 jobs, in the single largest round of layoffs in the company’s history, according to CNN.

In a Facebook post on Tuesday, CEO Mark Zuckerberg said the job cuts will take place “over the next couple of months.”

“We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May,” he wrote. In a “small number of cases, it may take through the end of the year to complete these changes.”

“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,” Zuckerberg said.

According to public filings, Meta had 87,314 employees as of September 2022. With the 11,000 job cuts announced in November and the 10,000 announced Tuesday, Meta’s headcount would be around 66,000, according to CNN.