Mark Zuckerberg, the founder and CEO of Meta, stated on Tuesday that the company will lay off an additional 10,000 employees over the next few months.
In a Facebook post, Zuckerberg said , “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”.
Meta said in a separate filing with the US Securities and Exchange Commission that the latest job losses will reduce the high end of its spending projection for the year by $3 billion.
Over the next few months, company leaders will reveal reorganisation plans aimed at flattening organisations, cancelling low-priority initiatives, and lowering recruiting rates.
“We will let recruiting team members know tomorrow whether they’re impacted. We expect to announce restructuring 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 new layoffs come only four months after he laid off 11,000 people, or 13% of the corporation, in November of last year.
Meta aims to eliminate recruiting and transfer freezes in each group after restructuring, according to Zuckerberg.
“Other relevant efficiency timelines include targeting this summer to complete our analysis from our hybrid work year of learning so we can further refine our distributed work model. We also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year,” he added.
During its ‘Year of Efficiency,’ Meta will flatten the organisation by eliminating many layers of administration.
“As part of this, we will ask many managers to become individual contributors. We’ll also have individual contributors report into almost every level — not just the bottom — so information flow between people doing the work and management will be faster,” Zuckerberg noted.