Mark Zuckerberg, the Founder and CEO of Meta has announced the sack of around 10,000 more employees via several job cuts in the coming months.
In a Facebook post, Mark said that 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" in the company's "year of efficiency".
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In a separate filing with the US SEC, where Meta stated that the new job cuts will lower the high-end guidance for the year by $3 billion.
Over the next couple of months, the social networking platform will announce restructuring plans which are focused on flattening the organisations, cancelling the lower priority projects, and reducing hiring rates. There is no specific mention of the layoff in India, but we expect the company to touch the market, as a part of its global layoff.
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The CEO further said, "We will let recruiting team members know tomorrow whether they're impacted. We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May."
In a small number of cases, it might take through the end of the year (2023) to implement these changes, he further added.
"Our timelines for international teams will also look different, and local leaders will follow up with more details," stated Zuckerberg.
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The recent job cut surfaced just in four months gap since Meta laid off 11,000 employees, which is 13 per cent of the company's workforce, in November (2022)last year.
Post restructuring, Zuckerberg said will Meta plan to lift the hiring and transfer freeze in each group.
"Other relevant efficiency timelines include targeting this summer to complete our analysis from our hybrid work year of learning so we can further refine our distributed work model. We also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year," he added.
In its 'Year of Efficiency', Meta will make the organisation flatter than earlier, and this could happen by removing multiple layers of management from the platform.
"As part of this, we will ask many managers to become individual contributors. We'll also have individual contributors report into almost every level -- not just the bottom -- so information flow between people doing the work and management will be faster," Zuckerberg further stated.
Inputs from IANS
