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Meta to cut 10,000 more employees for efficiency

In addition to the 11,000 positions that Meta cut in November 2022, Mark Zuckerberg has indicated that Meta will reduce 10,000 additional positions.

Zuckerberg emphasized in a Facebook post that the action is a part of his campaign to make 2023 the “Year of Efficiency”.

“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,” he said. “This will be tough and there’s no way around that.”

With these new layoffs, which come just months after the previous wave, Meta aspires to be “as lean as possible.” Zuckerberg also stressed the need for “a more ideal ratio of engineers to other positions” to return.

Facebook reached a milestone of 2 billion members in February, according to Meta, but its income was still falling. In 2022, the corporation lost its metaverse wager for around $13.7 billion USD.

In comparison to its competitors, Facebook’s parent corporation was likewise slower to respond to the AI boom, later stating that it wanted to “turbocharge” its work on generative AI.

 

 

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