Goalproperty of mark zuckerberg, announced this Tuesday that it will cut another 10,000 jobs in the coming months. In the same way, it will also close some 5,000 thousand vacancies around the world.
These layoffs from the parent company of Facebook, Instagram and WhatsApp come after 11,000 workers were cut in November, 13% of its workforce.
Mark Zuckerberg and Meta’s “year of efficiency”
The purpose of the 2022 layoffs was to reduce costs for Meta. For this reason, its CEO and co-founder Mark Zuckerberg started January saying that 2023 would be the “year of efficiency”.
Six weeks later, Zuckerberg said in a letter to his employees that the company will try to further minimize costs as a way to execute on the company’s long-term vision.
“This is going to be hard and there is no way around it,” Zuckerberg said, announcing the decision. “I recognize that sharing layoffs and restructuring plans months in advance creates a challenging period.”
In the same way, he said that the Meta workers were given a detailed schedule with what they should expect in the coming months:
- Members of the recruiting team will know if they have been fired tomorrow
- Tech workers will be informed of restructuring and layoffs in April
- Business groups will find out in May
- The rest of the employees affected by the restructuring could take until the end of the year.
In 2022, Meta’s profits plummeted 41% in fiscal year 2022, to $23.2 billion, due to a small drop in revenue and a significant increase in costs.
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