Facebook(Facebook) parent company Meta plans todownsizing10,000 employees. This is the second round of massive layoffs announced by the tech giant in four months.
In November last year, Meta announced it would cut 13 percent of its workforce, or 11,000 jobs, in the biggest round of layoffs since the company’s founding.
facebook chief executivezuckerbergIn a Facebook post on Tuesday, Mark Zuckerberg said the layoffs would happen “over the next few months.”
They wrote: “We expect to announce restructuring and layoffs in the technology division in late April, the business division in late May, and in some cases, may take until the end of the year.
Zuckerberg said he wanted to reduce the size of the team by about 10,000 people and close about 5,000 unfilled vacancies.
As of September 2022, Meta reported 7,314 employees, according to a securities filing. In November, 11,000 layoffs were announced. The 10,000 layoffs announced on the 14th will reduce Meta’s workforce to approximately 66,000, or more than a quarter of the workforce.
Meta’s shares rose more than 4% in early trading that day after the news was announced.