Following additional layoffs announced by the digital behemoth on Tuesday, another 10,000 employees of Meta, the parent company of Facebook and Instagram, will be let go.
In a communication to staff members, Meta CEO Mark Zuckerberg stated that he “took the difficult decision” to implement the layoffs and added that this week’s hiring plans would be impacted.
Zuckerberg stated that “we plan to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late may,” adding that “it may take through the end of the year to finalise these adjustments” for some staff.
According to Zuckerberg, the corporation will also fill an extra 5,000 vacant positions.
“This will be difficult,” said Mark Zuckerberg.
The information follows Meta’s announcement last year that it will let go of more than 11,000 workers, or around 13% of its staff. Meta reported dropping profits and lower revenue for the third consecutive quarter last month.
There’s no getting around the fact that this will be difficult. In addition, Meta will “support people in the same ways we have before and provide everyone with the gratitude they deserve,” Zuckerberg wrote on Tuesday. “It will mean saying goodbye to great and passionate colleagues who have been part of our success.”
The company claimed last month that competition from other social media platforms as well as a decline in online advertising had an effect. Moreover, Meta has invested enormous sums of money in the metaverse, an online virtual environment that combines aspects of augmented reality, virtual reality, avatars, and other forms of communication.
The decision was made at a time when other tech firms throughout the industry have recently let go of thousands of staff. Over 12,000 job cuts were announced by Google in January, and 8% of the staff at SiriusXM radio will be let go.
How many people work for Meta?
- – the – – – – – – – – -. — -.t. That was prior to the corporation announcing its forthcoming layoffs and more than 11,000 job cuts in November.
