The winter of layoffs continues, as Meta announces another round of layoffs that will see 10,000 jobs cut from the parent company of Facebook, Instagram, and WhatsApp.
According to Mark Zuckerberg, 2023 is the “year of efficiency” for Meta. So far, that has meant scrapping ideas and firing employees at a staggering rate, echoing mass layoffs at other major tech companies.
Unfortunately, it doesn't sound like these cuts are going to stop anytime soon, either, with the tech CEO noting that these kinds of economic turmoil could “continue for many years.”
More Layoffs at Meta Confirmed
“Overall, 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.” – Mark Zuckerberg
As for what these layoffs will look like for the Meta staff, Zuckerberg explained in detail exactly what everyone should expect from the news.
“Here’s the timeline you should expect: over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates.” – Mark Zuckerberg
On top of all that, Zuckerberg noted that Meta would be reducing its recruiting team substantially, considering their necessity is limited given the lack of new positions on the horizon.
Meta's “Year of Efficiency”
When Meta laid off 11,000 employees in November, Mark Zuckerberg also announced that 2023 would be the “year of efficiency” noting that the company would aim to “flatten” the organization in service of a better company.
Zuckerberg continued with this lexicon, using the word “efficiency” or “efficient” approximately 20 times in his blog post about the layoffs.
“As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs — and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long-term vision.” – Mark Zuckerberg
The year of efficiency has been a notable departure from just 18 months ago, when the controversial CEO announced that the company would be changing its name to Meta in hopes of ushering in the metaverse, a virtual world where people could interact like the real world.
Now, though, the recession has made this pipe dream that much more unlikely, particularly considering Meta has lost almost $14 billion in the process. Suffice to say, these layoffs and cost cutting measures are likely just the start of some serious restructuring over at Meta.