Meta CEO Mark Zuckerberg

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Meta is laying off around 10,000 more workers, its second layoff in four months.
Further cuts have been expected since January, as Insider previously reported.
Mark Zuckerberg said the layoffs are a part of the company’s “Year of Efficiency.”

Meta is laying off another 10,000 workers in the second wave of cuts at the company in four months.

Meta CEO Mark Zuckerberg said the cuts were necessary to improve the company’s “financial performance in a difficult environment.” The company formerly known as Facebook will now have about 65,000 employees, down from a peak last year of roughly 86,000. In November, 11,000 employees were laid off in a broad cull Zuckerberg referred to at the time as “a last resort.”

“This will be tough and there’s no way around that,” Zuckerberg said in a post on Facebook on Tuesday. “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.”

With the new cuts, Meta’s headcount is closer to where it was two years ago.

While the breadth of the November layoffs came as a surprise to many Meta employees, this second round has been expected internally since at least January, as Insider first reported.

One of the early signs more cuts were on the way was an internal mandate for team managers and directors to label more workers in lower ranking categories during performance reviews, as Insider reported. Those reviews just wrapped up earlier this month. Then the company continued to find ways to cut costs, pulling back on perks and benefits.

Zuckerberg announced during fourth quarter earnings that …read more

Source:: Businessinsider