Facebook-parent Meta to lay off 10,000 employees months after it cut 11,000 jobs
On Tuesday, Facebook-parent Meta Platforms said that it would cut 10,000 jobs, international news agency Reuters reported.
The move comes four months after it let go 11,000 employees, which is the Big Tech company’s second round of mass layoff.
“We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired,” Reuters reported quoting Chief Executive Officer Mark Zuckerberg’s message to staff.
Meta cut roughly 11,000 jobs, or about 13 per cent of its employees, last year.
Technology companies including Amazon.com Inc., Microsoft Corp. and others have cut thousands of jobs this year and last as profits retreat from pandemic-induced highs.
Since 2022, layoff tallies have reached nearly 300,000 workers, according to Layoffs.fyi, a site that is tracking job cuts in the industry.