In an effort to save costs, Meta has announced yet another round of extensive layoffs. According to CEO Mark Zuckerberg, the business will close “about 5,000 additional open roles that we haven’t yet hired” and lay off another 10,000 or so employees.
Meta will soon reduce the size of its recruiting team, and on Wednesday it will notify those affected. After that, in late April for its tech departments, the corporation will announce layoffs, and in late May for its business teams. According to Zuckerberg, the process might take until the end of 2023, although for Meta’s activities outside of the US, the timetables might be different. Meta intends to end the hiring moratorium following the restructure.
There’s no getting around the fact that this will be difficult. It will entail bidding farewell to motivated and brilliant coworkers who have contributed to our success,” Zuckerberg said. “They have devoted themselves to our purpose, and I personally appreciate everything they have done. We will continue to provide assistance in the same manner as before and provide everyone the respect they merit.
Additionally, according to Zuckerberg, the business would “announce restructuring plans focused on flattening our orgs” and shelve lower priority initiatives. According to reports, the layoffs will have an impact on the teams developing wearable technology for Reality Labs’ hardware and metaverse business. Since Meta “will ask many managers to become individual contributors,” it appears that managers will have to take on some of the duties that their employees concentrate on. The “flattening” process involves reducing layers of management.
