Meta founder Mark Zuckerberg wants the company to be more “efficient”. (file)
Meta Platforms Inc. The company is set to begin layoffs on Wednesday as it restructures teams and works toward founder Mark Zuckerberg’s goal of greater efficiency.
The Facebook parent company notified managers on Wednesday to announce the job cuts, via a memo seen by Bloomberg News. This indicates Facebook, WhatsApp, Instagram and Reality Labs – which operates the firm’s virtual reality efforts and Quest hardware – will all be affected. The move is part of a cost-cutting drive that will eventually eliminate 10,000 positions at the company, announced by Zuckerberg in March. Another round of cuts is scheduled for May.
Meta already cut about 13% of its workforce, or about 11,000 jobs, in November. It also extended a hiring freeze during the first quarter, which has been halted by job and cost-cutting by other Silicon Valley businesses. Zuckerberg’s comments suggested the company would aim to become leaner and rebalance its ratio of technologists and engineers to business and administrative staff.
The memo circulated to managers indicates that teams will be reorganized and various remaining employees will be reassigned to work under new managers.
The document said Meta will ask all North America employees who can work from home on Wednesday to allow time to process the news.
A company spokeswoman declined to comment, pointing to Zuckerberg’s “year of efficiency” post in March, which said that “we expect to announce restructuring and layoffs across our technology groups in late April.” do, and then our trade group at the end of May.”
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