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Meta – the parent of Facebook and Instagram – will cut another 10,000 jobs and undergo a hiring freeze in what CEO Mark Zuckerberg is calling the “Year of Efficiency.”
In a further cost-saving measure, Meta will also close 5,000 open roles. Zuckerberg said the measures are being taken to “improve organizational efficiency, dramatically increase developer productivity and tooling, optimize distributed work, garbage collect unnecessary processes, and more.”
Late last year, Meta announced it was axing 11,000 staff – about 13% of the entire workforce at that point – and the new round of cuts take that to 21,000, or 26,000 if the hiring freeze is counted.
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