The News
Meta, the parent company of Facebook, Instagram, and WhatsApp, is laying off another 10,000 employees, CEO Mark Zuckerberg announced Tuesday.
In a lengthy post about what Zuckerberg called Meta’s “Year of Efficiency,” he said layoffs will come from the company’s recruiting, tech, and business teams, and are expected to take effect over the next several months.
“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 wrote.
Meta also doesn’t plan to fill about 5,000 open roles.
The news follows an earlier wave of layoffs from November in which Meta said it would cut more than 11,000 jobs, reducing the size of its team by about 13% in the first mass layoffs in the firm’s history.
Step Back
The Meta layoffs follow several turbulent months for Big Tech.
Mass layoffs began last year as the industry tightened its belt, with more than 154,000 jobs cut across 1,000 tech companies in 2022, according to data tracked by website Layoffs.fyi.
According to a TechCrunch tally, there were 120,000 tech layoffs in January and February of this year alone, across companies like Amazon, Microsoft, and Google’s parent company Alphabet.