Meta, the parent company of Facebook is reportedly set to cut another 10K jobs. The social media firm is now planning to cut 10,000 jobs and to also close hiring on 5,000 open positions according to reports.
Meta Is Reportedly Set To Cut another 10K Jobs
Facebook parent company meta us cutting jobs once again., CEO Mark Zuckerberg on Tuesday said that the firm is planning to eliminate 10,000 jobs and to close hiring on 5,000 open positions. The social media giant back in November laid off approximately 11,000 workers.
Meta’s Reaction to the Cut Jobs
The cut jobs in question are part of what Meta is referring to as its “year of efficiency,” marked by corporate restructuring and efforts the firm says will help improve its organizational effectiveness and financial standing.
Managers in the next couple of months will announce restructuring in order to flatten the organization, cancel out lower-priority projects, and then reduce hiring, Mark in a memo sent to its employees and on the press site of meta said. The CEO also referenced his plans to trim the size of the recruiting team of Meta.
The Layoffs Are the Latest in the Bout of Tech Industry Job Cuts
The layoffs as you should know are the latest in the bout of tech industry job cuts this year alone. Tech giants such as Alphabet, Microsoft, Twitter, Spotify, Zoom, and many more this year alone have eliminated jobs and in the process also forced tens of thousands of employees out of jobs.