Meta Announces Another , Round of Layoffs.
'The New York Times' reports that Meta has announced a planned layoff of about 10,000 employees.
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The decision by the owner of Facebook and Instagram will cut its workforce by about 13%.
The layoffs come as part of what the company's founder, , Mark Zuckerberg, has called a , "year of efficiency.".
In a memo posted on the company's website, Zuckerberg said the layoffs will first impact Meta's recruiting team this week.
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In April and May, a further round of layoffs are expected as the company restructures its tech and business groups.
According to Zuckerberg, the plan is to streamline the company by removing layers of management and rebalancing product teams, among other changes.
According to Zuckerberg, the plan is to streamline the company by removing layers of management and rebalancing product teams, among other changes.
The announcement comes just months after Meta laid off over 11,000 employees in November.
This initial round of layoffs also largely impacted the company's business and recruiting divisions.
That cut, like the one announced this week, reduced Meta's workforce by about 13%.
That cut, like the one announced this week, reduced Meta's workforce by about 13%.
'NYT' reports that last year marked the end of Meta's unchecked growth as the global economy and digital advertising markets contracted
