Meta: about to lay off another 10,000 employees
(CercleFinance.com) - Facebook's parent company Meta announced on Tuesday that it plans to further reduce its global workforce by about 10,000, the latest sign of the technology group's desire to streamline its structure.
The company said it would cut an additional 10,000 jobs from its global workforce in the latest sign of the technology group's desire to slim down its structure.
In an email sent to the company's employees, CEO Mark Zuckerberg explained that a new wave of layoffs affecting its technology teams will be unveiled at the end of April, before further cuts to its administrative teams in late May.
In addition to these job cuts, the group plans to forgo the opening of 5,000 new positions that had not yet been filled.
In his letter, Mark Zuckerberg justifies his decision by the need to eliminate several organisational layers at management level as part of what he considers to be a "year of efficiency" for the group.
Since we downsized last year, one of the most surprising results has been that things are moving much faster, he explained.
Last November Meta already announced that it would reduce the size of its workforce by 13%, i.e. about 11,000 redundancies.
Following the announcement of this latest round of layoffs, Meta's shares actually rose over 5.5% on Tuesday morning in early trading in New York.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The company said it would cut an additional 10,000 jobs from its global workforce in the latest sign of the technology group's desire to slim down its structure.
In an email sent to the company's employees, CEO Mark Zuckerberg explained that a new wave of layoffs affecting its technology teams will be unveiled at the end of April, before further cuts to its administrative teams in late May.
In addition to these job cuts, the group plans to forgo the opening of 5,000 new positions that had not yet been filled.
In his letter, Mark Zuckerberg justifies his decision by the need to eliminate several organisational layers at management level as part of what he considers to be a "year of efficiency" for the group.
Since we downsized last year, one of the most surprising results has been that things are moving much faster, he explained.
Last November Meta already announced that it would reduce the size of its workforce by 13%, i.e. about 11,000 redundancies.
Following the announcement of this latest round of layoffs, Meta's shares actually rose over 5.5% on Tuesday morning in early trading in New York.
Copyright (c) 2023 CercleFinance.com. All rights reserved.