Facebook Parent Meta to Cut 10,000 Jobs, Slash 5,000 Open Positions
Meta CEO Mark Zuckerberg takes 529 words today to explain the company’s plan to cut 10,000 jobs and also eliminate 5,000 more vacant positions:
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 adds, “this will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success.”
The Meta CEO says, “At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.”
Zuckerberg explained, “higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation. Given this outlook, we’ll need to operate more efficiently than our previous headcount reduction to ensure success.”
“Change is never easy, but I know we’ll get through this and come out an even stronger company that can build better products faster and enable you to do the best work of your careers.,” concluded Zuckerberg.
It’s unclear how these job cuts will affect Meta’s Canadian operations.
The news comes after Meta announced in November it would cut 11,000 jobs to become “leaner and more efficient.”