For the second time in four months, Meta is making another round of layoffs. This will in turn will remove 10,000 people from employment.
Meta, previously known as Facebook, has trimmed it’s employee base from 86,000 to 65,000 since November 2022. This will be a challenging road as Facebook has never had this few employees.
JUST IN – Zuckerberg to fire 10,000 employees in the second round of job cuts at Facebook $META.
— Disclose.tv (@disclosetv) March 14, 2023
A post from CEO, Mark Zuckerberg, states – “It will mean saying goodbye to talented and passionate colleagues who have been part of our success. They’ve dedicated themselves to our mission and I’m personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve.”
* Facebook Parent Meta to Lay Off 10,000 Employees –WSJ
* Cuts to Come in Multiple Rounds in Coming Months
* Layoffs Come on Top of 11,000 Job Cuts Announced in November$META
— Carl Quintanilla (@carlquintanilla) March 14, 2023
Beyond this, Meta will close an additional 5000 open jobs as well as further cuts to its recruiting team. Last layoff the recruiting sector was hit the hardest, so it’s possible that another steep set of layoffs are inbound.
10,000 Facebook employees are being laid off today.
Facebook is falling down HARD.
Go woke, go broke.
— Lavern Spicer ?? (@lavern_spicer) March 14, 2023
Zuckerberg’s’ latest warning states that the company might be looking to cut expenses and changing procedures for a long time to come. It’s no coincidence that Facebook’s stock is now back on the rise.
One of the early signs cuts were coming was that Facebook sent out an internal memo to high ranking employees to label more workers in lower ranking categories during performance reviews.
In Q4 of 2023, Zuckerberg announced that 2023 would be Meta’s “year of effiency.” He did not want the company to be one of “managers managing managers.”
Meta, owner of Facebook & Instagram, plans to lay off roughly 10,000 employees. The cuts follow 11,000 layoffs in November. Mark Zuckerberg, Meta’s chief executive, has declared 2023 the “year of efficiency.” ?
— just call me euonymous??? (@euonymous) March 14, 2023
In recent weeks the internal talks have been about the removal of lawyers of management at Meta. The company took existing management roles and changed to non-management positions as the employees prepared to get demoted.
Facebook parent Meta plans to cut and reshuffle thousands more workers, after CEO predicted no more layoffs
Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between Meta CEO Mark Zuckerberg & the company’s interns.— michael powell (@zolaism) February 22, 2023
Facebook generally had never been concerned with cutting costs. With massive growth in the past 20 years. Even the pandemic allowed for Facebook to grow. This can be directly linked to when Apple rolled out is IOS changes costing Meta a $10 billion dollar setback.
Facebook estimates it will lose 10 Billion in revenue because of a change in Apples privacy policy. A popup will allow iphone users to opt of of sharing information. No one asked me about these decisions. FB is furious. Apple is no Saint it forces users to only use it's store
— B (@B912g) November 27, 2022
The first set of layoffs at Facebook was seen to be a direct approach to correct the stock price. Zuckerberg claimed to be “surprised” by the positive effects of the layoffs. He stated “It’s made information flow through the company better, and it will help us make better products and attract and retain better people. That was honestly a little surprising to me — that as we started digging into this, the company felt better to me.”
Facebook's Mark Zuckerberg has said that 10,000 employees would be removed from his company
And also 5,000 additional open roles that weren't yet hired would be closed
Liberals expected Indian companies to sack employees
But Indian companies are rock solid
— Mahesh Vikram Hegde ??( Modi Ka Parivar ) (@mvmeet) March 14, 2023
New claims unveiled in a court filing suggest employees at Meta and ByteDance were warned of their platforms’ harms to children and teenagers but disregarded or undermined them, including Meta CEO Mark Zuckerberg https://t.co/H0g9krZP8T
— RR Edmonds (@rr_edmonds) March 14, 2023
Mark Zuckerberg, the owner of Meta, Facebook & Instagram, plans to lay off 10,000 employees, or roughly 13% of his workforce.
I hate when articles try and make it seem like this is a faceless corporation. The face is right there and has a name. https://t.co/qn9xqfATZN
— RLG (@Suit_guy97) March 14, 2023
https://twitter.com/RealAnon1776/status/1635670162425671681?s=20
Meta stock is up more than 6%. Reminder that this is part of a broader plan from CEO Mark Zuckerberg that he’s calling the “year of efficiency” – lots of other cuts this year beyond layoffs, too pic.twitter.com/lydfUcnxA1
— Kurt Wagner (@KurtWagner8) March 14, 2023
https://twitter.com/GelaniParody/status/1635654255452499968?s=20
