Meta CEO Mark Zuckerberg announced another 10,000 job cuts at the tech company. In addition, the company announced that it will leave another 5,000 vacancies it was currently offering unfilled. The objective of these new cuts is to improve financial results "in a difficult environment" while announcing new investments in AI to secure the company's long-term future. At the end of last year, the parent company of Facebook and Instagram had already laid off 11,000 employees.
In an email sent to employees of the technology company, which he later uploaded to his Facebook profile, Zuckerberg explained the company's plans, which include cuts.
Over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates. With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team (...). 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 may take through the end of the year to complete these changes. Our timelines for international teams will also look different, and local leaders will follow up with more details. 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.
"Year of Efficiency"
Zuckerberg stated that the main objectives of what he calls Meta's "Year of Efficiency" are "to make us a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision." Therefore, the layoffs will help reduce internal bureaucracy and the filters between management and workers, which often result in information arriving too polished and far from what was originally indicated.
With the long term in mind, the CEO announced that he will invest "in tools that will make us most effective over many years, not just this year -- whether that's building AI tools to help engineers write better code faster, enabling us to automate workloads over time, or identifying obsolete processes that we can phase out."
