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Meta Cuts 10,000 Jobs in New Round of Layoffs

| How Africa News

 

On Tuesday, March 14, Facebook parent company Meta announced a new round of layoffs, as the US tech sector continues to contract.

In a note to staff, Zuckerberg stated that Meta would cut 10,000 jobs over the next few months, focusing on middle management, with 5,000 additional positions remaining unfilled.

The layoffs follow an 11,000-job decrease announced by the business in November.

“This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success,” Zuckerberg said.

Meta’s recruitment department will be the first to suffer as the company formally ends the hiring boom that occurred when big tech boosted up operations to meet strong demand during the coronavirus pandemic.

In subsequent months, tech and business departments will also be affected and “in a small number of cases, it may take through the end of the year to complete these changes,” Zuckerberg said.

In January, Zuckerberg warned that further pain was coming when he told analysts the company’s “management theme for 2023 is the ‘Year of Efficiency’” and that he would focus on making the company  “a stronger and more nimble organization.”

Meta’s share price shot up a further 5 percent after the announcement of the latest job cuts.

Meta’s CEO and founder said he “will make our organization flatter by removing multiple layers of management” which would mean many managers will be ordered to become “individual contributors.”

Zuckerberg explained he was pleasantly surprised by the benefits of running a more tightly organized operation where “many things have gone faster” with the elimination of lower priority projects.

“A leaner org will execute its highest priorities faster. People will be more productive, and their work will be more fun and fulfilling,” he said.

Written by How Africa News

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