Facebook parent Meta will likely slash its workforce yet again this week. According to media reports, a memo posted on the company’s message board on Tuesday revealed that a fresh round of layoffs will be set in motion from Wednesday.
The leaked memo also features the comment of Lori Goler, Meta’s head of people, who said that it will be difficult to bid goodbye to so many employees who have immensely contributed to the company’s journey.
The latest round of job cuts will impact technical teams working across different platforms including Facebook, Instagram, Reality Labs, and WhatsApp. The company may reportedly ask its employees in North America to work from home on Wednesday in order to give themselves time to process the news.
Meta CEO had stated in March that the company will be handing out pink slips to around 10,000 employees on top of the 11,000 job cuts it had pushed through in November. Last year’s decision for layoffs can be attributed to the company following a streamlining of its organizational structure, which included buyout packages for managers and laying off whole teams considered to be non-essential.
Meta has witnessed a steady drop in advertising revenues which has led to Zuckerberg dubbing this year as Meta’s "year of efficiency,", a theme that the company has been communicating to employees during their performance reviews.
Mark Zuckerberg had previously said in a post that 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,” as reported by PTI.
The company has said that in its “Year of Efficiency”, the company aims to make itself “a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision.”
Outlining the “timeline” of its restructuring going forward, Zuckerberg said over the next couple of months, organisation leaders will announce restructuring plans focused on flattening “our orgs, cancelling lower priority projects, and reducing our hiring rates."
The CEO had shouldered the responsibility for the first round of layoffs and admitted that the company had expanded beyond measure during the pandemic.