In its effort of downsizing and CEO Zuckerberg’s “year of efficiency,” Meta is going to begin mass layoffs next week. The company planned the elimination of 10,000 positions by the end of May.
Meta gears up for its next round of layoffs
As per a Vox report, Meta has laid off almost 25 percent of its estimated workforce in a few months as the US tech sector is reducing. The move was announced in a Q&A session with the firm’s executives. Earlier this year, CEO Mark Zuckerberg called 2023 a “year of efficiency”. Back in November 2022, the tech giant slashed 11,000 jobs. In March, the Meta CEO announced Meta was planning to remove about 10,000 positions by the end of May. In the same month, it cut about 4,000 of the proposed positions, leaving 6,000 more for the next round.
“The third wave is going to happen next week. That affects everybody in the biz teams, including in my orgs. It’s just a time of great anxiety and uncertainty. I wish I could have some easy way of providing solace or comfort. It is uncertain. And actually, it’s really increased my admiration for the way that everyone is. Notwithstanding that uncertainty. You’re just displaying such resilience and professionalism,” stated Nick Clegg. Clegg is the president of global affairs for Meta.
The global trend of mass layoffs
Tech giants across the world are performing mass layoffs. As per a report, the total of layoffs for this year based on months to date totals 168,243. However, despite this, top firms are reportedly in search of hiring lower-paid tech workers from other nations. As per Lee Fang’s investigation based on data from the US Department of Labor, Meta, Google, Amazon, Salesforce, and Zoom among others applied for thousands of H1B worker visas.
