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Facebook's Mother Meta Cuts 10​,​000 Jobs in 'Year of Efficiency'.

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Facebook parent company Meta will lay off an additional 10,000 employees, or about 12% of its workforce, to cut costs and increase efficiency, CEO Mark Zuckerberg announced Tuesday.

"Last year has been a humble wake-up call. The global economy has changed, competitive pressures have increased and our growth has slowed significantly," Zuckerberg shared with employees Tuesday morning. said in a statement posted on Facebook. “At the moment, I think we need to prepare for the possibility that this new economic reality will last for years.”

A round of layoffs at Instagram and his WhatsApp parent company Meta will begin Wednesday. Zuckerberg said the company's recent hiring freeze has resulted in some recruiters being fired quickly. The company will then announce layoffs for its technology group in late April and its business team in May, Zuckerberg said.

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released March 14, 2023

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