Meta to axe 10,000 jobs in second round of redundancies

Meta will axe another 10,000 jobs to cut costs, just four months after the tech giant laid off 13% of its global workforce.

The company said it will reduce the size of its recruiting team and making additional cuts within its tech teams in April and its business teams in May.

“We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired,” Meta CEO Mark Zuckerberg said.

“This will be tough and there’s no way around that.

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“It will mean saying goodbye to talented and passionate colleagues who have been part of our success.”

The news comes after Meta cut its global headcount by over 11,000 employees, as tech companies continue to cut costs in the wake of economic difficulties,

In fact, Google, Meta, Amazon and other tech firms have laid off more than 95,000 employees in the last year.

Meta’s latest job cuts are part of a wider effort to rebuild the business that has seen it shut down various projects and halt its recruitment.

Shares in the company jumped by 6% after the cuts were announced.

In addition, Zuckerberg has stated 2023 will be the “year of efficiency” for Meta, with cost cuts of $5bn in expenses to between $89bn and $95bn.

“I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” he said in a message to employees.

According to tracking site, the wider tech industry has laid off over 280,000 workers since the beginning of 2022, with approximately 40% of them coming this year.

Big TechNews


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