Meta Cutting Another 10,000 Jobs And Institutes Hiring Freeze
In a further cost-saving measure, Meta will also close 5,000 open roles. Zuckerberg said the measures are being taken to “improve organizational efficiency, dramatically increase developer productivity and tooling, optimize distributed work, garbage collect unnecessary processes, and more.”it was axing 11,000 staff – about 13% of the entire workforce at that point – and the new round of cuts take that to 21,000, or 26,000 if the hiring freeze is counted.
Today, in a blog post, Zuckerberg addressed his ‘Year of Efficiency’ strategy. “As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs — and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision,” he said.
Over coming months, Meta chiefs will announce restructuring plans “focused on flattening” their organizations, cancel “lower priority projects” and reduce hiring rates. Other managers will take on more reports, though Meta broadly doesn’t like more than 10 reports per manager.
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