Meta lays off another 10,000 workers as part of ‘year of efficiency’

Meta Chief Executive Officer Mark Zuckerberg said Tuesday that the company is laying off another 10,000 workers to hedge against economic instability that could last “many years.”

The move is part of a series of moves, including slowing hiring and canceling some projects that Meta is undertaking to cut costs and improve financial performance during what Zuckerberg has dubbed its “Year of Efficiency.”

The layoffs will take place “over the next several months,” Zuckerberg said in a memo employees.

By tomorrow, members of the hiring team will know if they still have work available. Meta, the parent company of Facebook and Instagram, will announce layoffs in its technology teams at the end of April and in its business teams at the end of May. The company will also abandon plans to hire an additional 5,000 workers to fill open positions.

“It’s going to be tough, and there’s no getting around it,” Zuckerberg said in his address to workers.

According to the memo, “job elimination” is one way to achieve Meta’s goal of greater efficiency.

A new round of layoffs follows the company cut about 11,000 jobs — or 13% of Meta’s workforce — in November.

Zuckerberg said the previous round of layoffs helped the company “accelerate our top priorities” as a leaner organization.

At its peak in 2022, Meta had 87,000 full-time employees.