In the face of economic challenges in the US, Meta, the social media behemoth, has announced job cuts to stay competitive and continue to invest in the metaverse. On March 14th, Meta CEO and founder Mark Zuckerberg revealed that the company will dismiss 10,000 employees to increase efficiency in 2023.
Zuckerberg stated that Meta’s primary goals are to enhance its technology prowess and improve financial performance amid the harsh economic climate in the country. These actions align with the company’s long-term vision.
He further explained that the company must bolster productivity and developer tools to attain its goals. It also must eliminate unnecessary processes and non-essential roles by streamlining its operations.
“In the coming months, our organizational leaders will unveil restructuring plans aimed at flattening our organizations, scrapping lower-priority projects, and lowering our recruitment rates. Given this hiring reduction, I have made the tough decision to further cut down the size of our recruiting team.”
Massive Layoffs Begin Tomorrow
Meta’s CEO announced that the most recent of a larger wave of layoffs affecting 10,000 employees will begin tomorrow, with the dismissals spanning three months. The company also revealed that it would shut down 5,000 positions.
“Overall, we anticipate reducing our team size by roughly 10,000 people and closing about 5,000 other unfilled positions.”
As a result, a significant portion of the recruitment team may lose their jobs, and they will be notified of their dismissal on March 15th.
