WILL NOT IMPACT INFLATION
Meta Wednesday began a third round of restructuring layoffs expected to cut 6,000 more jobs.
As part of the plan Meta has stopped recruiting for roughly 5,000 job openings and will lay off 21,000 people this year jobs cut in November and April are factored in.
In a March post, Zuckerberg said the layoffs are part of a restructuring designed 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."
Zuckerberg said after the restructuring the company plans to lift hiring and transfer freezes. He said the layoffs will make the company "flatter by removing multiple layers of management."
In April Meta reported first-quarter sales of $27.91 billion, an increase of 3% from the same quarter a year ago.
"We had a good quarter and our community continues to grow," said Zuckerberg. "Our AI work is driving good results across our apps and business. We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long-term vision."
He said then that the company is not abandoning its metaverse vision. He said Meta's focus will continue to be AI and the metaverse.
Meta Wednesday began a third round of restructuring layoffs expected to cut 6,000 more jobs.
Photo by Terry Schmitt/UPI | License Photo
May 24 (UPI) -- Meta started a third round of layoffs Wednesday as the company was expected to cut more than 6,000 jobs.
News of the latest cuts came as some workers announced on LinkedIn Wednesday that they had been laid off, according to CNBC.
This round of layoffs primarily affected Meta's business groups.
Employees had been made aware the layoffs were coming as Meta CEO Mark Zuckerberg announced a "Year of Efficiency" restructuring plan earlier this year.
May 24 (UPI) -- Meta started a third round of layoffs Wednesday as the company was expected to cut more than 6,000 jobs.
News of the latest cuts came as some workers announced on LinkedIn Wednesday that they had been laid off, according to CNBC.
This round of layoffs primarily affected Meta's business groups.
Employees had been made aware the layoffs were coming as Meta CEO Mark Zuckerberg announced a "Year of Efficiency" restructuring plan earlier this year.
As part of the plan Meta has stopped recruiting for roughly 5,000 job openings and will lay off 21,000 people this year jobs cut in November and April are factored in.
In a March post, Zuckerberg said the layoffs are part of a restructuring designed 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."
Zuckerberg said after the restructuring the company plans to lift hiring and transfer freezes. He said the layoffs will make the company "flatter by removing multiple layers of management."
In April Meta reported first-quarter sales of $27.91 billion, an increase of 3% from the same quarter a year ago.
"We had a good quarter and our community continues to grow," said Zuckerberg. "Our AI work is driving good results across our apps and business. We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long-term vision."
He said then that the company is not abandoning its metaverse vision. He said Meta's focus will continue to be AI and the metaverse.
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