Meta Platforms (owner of Facebook, Instagram, Oculus, WhatsApp) said this Tuesday, March 14, that it will eliminate 10,000 jobs.
The news was published as a rumor last week by Merca2.0.
The mass layoffs come just four months after Mark Zuckerberg’s company laid off 11,000 employees in October 2022.
The decision makes Facebook the first major technology company to announce a second round of mass layoffs.
“We are going to reduce the size of our teams by about 10,000 people and close about 5,000 vacant positions that we have not yet hired,” Zuckerberg confirmed in a message to all staff.
The layoffs are part of a major restructuring of Meta, a company that seeks to “flatten” its organizational structure with fewer bosses in middle positions.
It is also canceling low-priority projects and reducing its hire rate.
The news sent Meta shares up more than 2.5 percent in pre-open trading on Wall Street.
In the text posted on Facebook, Zuckerberg says: “This will be difficult and there is no way around it. It will mean saying goodbye to talented and passionate colleagues who have been a part of our success. They have dedicated themselves to our mission and I am personally grateful for all their efforts. We will support people the same way we have before and treat everyone with the gratitude they deserve.”
He adds: “We also aim to see a steady stream of developer productivity improvements and process improvements throughout the year.”
In the text, Zuckerberg talks about the “Year of Efficiency” again: “We will make our organization flatter by eliminating multiple levels of management. As part of this, we will be asking many managers to become individual contributors. We will also have individual contributor reporting at almost every level, not just the bottom level, so the flow of information between the people doing the work and management will be faster.”
Although Zuckerberg said that layoffs are “the last resort”, the truth is that he has not stopped laying off workers since things got complicated in mid-2022, when the economy began to stagnate with the end of the pandemic and the war. in Ukraine.
“We are restructuring to improve our efficiency,” Zuckerberg said in October 2022, when he announced the layoffs that occurred in November.
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