The first Big Tech company to announce a second round of massive layoffs, Facebook-parent Meta Platforms announced on Tuesday that it would eliminate 10,000 jobs, just four months after it let go 11,000 employees.
“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,” Chief Executive Officer Mark Zuckerberg said in a message to staff.
In a February statement, Meta stated that it anticipated its 2023 expenses to range from $89 billion to $95 billion. Zuckerberg referred to this time frame as a “Year of Efficiency.”
The WhatsApp owner had cut more than 11,000 jobs or 13% of its workforce, in November, following major giants like Amazon.com Inc. and Microsoft Corp., who announced tens of thousands of layoffs as a result of the economic downturn.
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