Meta Makes Major Cuts: 10,000 Employees Laid Off in "The Year of Efficiency"
Meta, the parent company of Facebook, has announced a new round of layoffs, with 10,000 employees set to lose their jobs. This comes on top of major layoffs that occurred last fall.
In a public Facebook post, Meta CEO Mark Zuckerberg referred to this as "the year of efficiency," stating that the company needs to become more efficient in order to weather a new economic reality.
Zuckerberg's announcement provided some details, including which departments will be cut, and that the company will cancel low-priority projects, though he did not specify which projects. The cuts are significant, with Meta cutting around a quarter of its workforce and eliminating approximately 5,000 open roles.
Meta's Massive Layoffs: CEO Mark Zuckerberg's Plan for Efficiency in the Year Ahead
The layoffs are part of a larger trend in the tech industry, as many major tech companies, including Amazon, Google, and Microsoft, have been laying off employees in recent months. Despite these cuts, these companies remain profitable, and they are all investing heavily in AI, which Zuckerberg said will be a key part of Meta's products going forward.
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