Facebook Parent Meta to Lay Off 10,000 Employees in Coming Months -- Update

By Sam Schechner

Facebook parent Meta Platforms Inc. said it would cut roughly 10,000 jobs over the coming months, the company's second major round of layoffs which it says are aimed at making the company more efficient in a difficult economy.

Meta Chief Executive Mark Zuckerberg said in an email to staff on Tuesday that the company will in the coming months engage in multiple rounds of job cuts, as well as canceling some projects and reducing hiring rates as part of what he has dubbed the "year of efficiency."

Company recruitment teams will be cut first, followed by restructuring and layoffs in its technology groups in late April, Mr. Zuckerberg said. Business teams will face layoffs in May, he added.

"This will be tough and there's no way around that," Mr. Zuckerberg wrote. "My hope is to make these org changes as soon as possible in the year so we can get past this period of uncertainty and focus on the critical work ahead."

Write to Sam Schechner at sam.schechner@wsj.com

(END) Dow Jones Newswires

March 14, 2023 09:41 ET (13:41 GMT)

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