Meta starts new round of layoffs focused on skilled workers
Meta is reportedly laying off 4,000 skilled engineering workers this week as part of a broader restructuring
Facebook parent company Meta started its latest round of layoffs on Wednesday as part of a previously announced effort to restructure the tech giant's workforce by downsizing about 10,000 employees in multiple rounds of layoffs.
Up to 4,000 workers may be affected by the latest round of layoffs according to reports.
The latest layoffs focus on Meta’s engineering staff and workers were notified that they were being let go in emails sent early on Wednesday.
META TO LAY OFF 10,000 EMPLOYEES IN LATEST ROUND OF JOB CUTS
Facebook parent company Meta is laying off about 4,000 workers this week as part of a broader restructuring effort that will involve cutting 10,000 employees from the workforce. (Angel Garcia/Bloomberg via Getty Images / Getty Images)
Meta CEO Mark Zuckerberg previously indicated that the company is also planning close an additional 5,000 open roles that haven’t been filled as part of the company’s effort to become leaner through its "Year of Efficiency" restructuring campaign.
The "Year of Efficiency" push comes after the company announced layoffs impacting 11,000 employees in November 2022.
The company confirmed to FOX Business that the latest layoffs are part of the 10,000 previously announced job cuts. In a post last month, Zuckerberg outlined that Meta would reduce the size of its recruiting staff in the initial phase before moving on to tech staff this month.
"We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May," Zuckerberg wrote. "In a small number of cases, it may take through the end of the year to complete these changes."
Meta declined to comment on other specifics about the latest layoffs, including severance packages.
This is a developing story and may be updated.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| META | META PLATFORMS INC. | 577.16 | -2.84 | -0.49% |