Meta carried out a recent wave of layoffs, which was expected to affect approximately 6,000 employees worldwide. These job reductions were implemented as part of Meta's "Year of Efficiency" initiative, aimed at restructuring the company to reduce expenses. Meta's business departments were specifically impacted by the third round of layoffs, TechCrunch reported.
In March, Meta Founder and CEO Mark Zuckerberg announced that the company would undergo two rounds of layoffs, scheduled for late April and late May, resulting in a total reduction of 10,000 jobs. Via Facebook post, Zuckerberg said overall, "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" in the company's "year of efficiency".
In November of the previous year, Meta had already eliminated 11,000 positions. Consequently, the total number of job losses across various departments within the social network amounts to approximately 21,000 individuals. Last month, the tech giant implemented a reduction of approximately 4,000 positions out of the initially planned 10,000, leaving around 6,000 positions potentially at risk of being eliminated.
Reports indicate that in April, Meta significantly reduced or nearly dismantled its team responsible for combating misinformation. As of the end of 2022, Meta's workforce comprised approximately 86,000 employees.
According to reports, Meta has ceased listing new remote positions and managers have allegedly been instructed not to post new job listings with the option for remote work. Zuckerberg has expressed that following the restructuring, Meta intends to remove hiring and transfer restrictions within each group.
Inputs from IANS