Meta plans to lay off another 10,000 people: Company cuts 21,000 jobs in 4 months

Facebook-parent Meta plans to lay off another 10,000 workers. This is the second major wave of layoffs by the tech giant in the past four months, cutting about 25% of the company's workforce.

As CNN reports, in a Facebook post Tuesday, Meta CEO Mark Zuckerberg said the job cuts will take place “over the next couple of months.”

“We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May,” he wrote. In a “small number of cases, it may take through the end of the year to complete these changes.”

“Overall, 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,” Zuckerberg said.

In November 2022, the Meta announced that it would cut about 13% of its workforce, or 11,000 jobs, which is the largest job cuts in the company's history.

As of September 2022, Meta had 87,314 employees. And if we subtract the 11,000 job cuts announced in November and the 10,000 layoffs—about a 25% cut—announced Tuesday, Meta will have about 66,000 employees after the second round of layoffs.

During the quarterly report this February, Mark Zuckerberg told investors that they plan to make 2023 the company's year of efficiency. He noted that his team is working to simplify the company's organizational structure and remove middle managers so that decisions can be made more quickly. Also, Zuckerberg indicated that the company would be more proactive in cutting low-performing and non-priority programs.

But Meta is not the world’s only company in the IT sector that is making large-scale layoffs. Starting from the end of 2022, a number of other IT companies also have started to massively reduce their staff. These companies include Microsoft, Amazon, Pinterest, IBM, Lam Research, Xiaomi, HP, Vimeo, Micron Technology, PayPal, Miro, Splunk, eBay, NetApp, Unity Software, and many more.