The winter of layoffs is continuing with layoffs, as Meta announces a new round of layoffs which will result in the elimination of 10,000 jobs by the parent firm that owns Facebook, Instagram, and WhatsApp.
As per Mark Zuckerberg, 2023 is the “year of efficiency” for Meta. This has meant scrapping plans and sacking employees in a flurry and echoing the massive cuts at other large tech firms.
Unfortunately, it doesn’t look like these cuts are likely to end anytime soon, also as the chief executive of tech warned that this kind of economic turmoil may “continue for a long time.”
More layoffs at Meta confirmed
In a recent blog post by Meta, according to a blog post on its website, Meta is announcing that it will cut more employees from their workforce. It comes after rumors that surfaced earlier this week of layoffs were on the horizon from Meta employees.
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“Overall we’re hoping to shrink our team by about 10,000 and to eliminate the gap of 5,000 open roles which we haven’t yet filled.” Mark Zuckerberg
What do these cuts will be for Meta employees, Zuckerberg explained in detail precisely what to anticipate from the news.
“Here’s the timeline to be prepared for: in the next few months, leaders from orgs will announce plans for restructuring that focus on flattening our organizations and removing projects that aren’t as important and reducing our recruitment rates.” Mark Zuckerberg
In addition to that, Zuckerberg noted that Meta will be cutting its recruitment team considerably, as their need is not as great due to the absence of any new jobs in the near future.
“Year of Efficiency” from Meta’s “Year of Efficiency”
When Meta eliminated 11000 employees back in the month of the month of November, Mark Zuckerberg also declared that 2023 was going to have been”the “year that is efficient”, stating that Meta would strive to “flatten” the structure to create an improved company.
Zuckerberg continued with his dictionary, using the words “efficiency” as well as “efficient” around twenty times within his entry about the layoffs.
“As I’ve spoken about effectiveness this year, I’ve stated that a large part of our efforts will be removing jobsand this will help in creating a smaller more technological company as well as increasing our performance in business in order to help us achieve our long-term goal.” Mark Zuckerberg
It marked an interesting change from 18 months ago when the controversial CEO announced the company was changing the name of its company to “Meta” with the intention of ushering into the Metaverse as a virtual space in which people can interact as in the actual world.
The economy has made the fantasy much less likely in particular when Meta has lost nearly 14 billion dollars in the process. It’s enough to say that these cuts in staff and cutting costs could be just the beginning of a serious restructuring of the company at Meta.
