As rumored for the past several weeks, Meta CEO Mark Zuckerburg has announced another large layoff of its team members. This time, the layoffs will affect 10,000 employees at the parent company of Facebook and Instagram. This is on top of the 11,000 layoffs Meta announced in November 2022.
Zuckerberg posted the lengthy message he sent to Meta employees today. He stated:
This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success. They’ve dedicated themselves to our mission and I’m personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve.
In addition to the new layoffs, Meta will also close about 5,000 currently open job posts at the company. The layoffs will begin for the company"s tech groups in late April, and for its business groups in late May. Zuckerberg stated that it may take until the end of 2023 to complete all of the layoffs and subsequent restructuring.
Zuckerburg added that he plans for Meta to be a leaner company going forward, and hinted that some projects currently in development may be on the chopping block. He stated:
A leaner org will execute its highest priorities faster. People will be more productive, and their work will be more fun and fulfilling. We will become an even greater magnet for the most talented people. That’s why in our Year of Efficiency, we are focused on canceling projects that are duplicative or lower priority and making every organization as lean as possible.
Meta will certainly be a much smaller business when all of these changes and reductions are put in place. It will be interesting to see how this will change the company in the long term.