Meta CEO fires 10,000 more employees

New Delhi: Meta Founder and CEO Mark Zuckerberg has announced to sack an additional 10,000 employees via several job cut rounds in the coming months.

In a Facebook post, Zuckerberg said 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” in the company’s “year of efficiency”.

In a separate filing with the US SEC, Meta said the new job cuts will lower the high end of its expense guidance for the year by $3 billion.

Over the next couple of months, organisation leaders will announce restructuring plans focused on flattening the organisations, cancelling lower priority projects, and reducing hiring rates.

“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,” the Meta CEO said.

In a small number of cases, it may take through the end of the year to complete these changes, he added.

“Our timelines for international teams will also look different, and local leaders will follow up with more details,” said Zuckerberg.

The fresh cuts come just four months after he laid off 11,000 employees, or 13 per cent of the company, in November last year.

Zuckerberg said that after restructuring, Meta plans to lift hiring and transfer freezes in each group.

Image courtesy of (CNET)

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