The tech industry is all set to witness another massive layoff as Facebook-parent Meta Platforms said it would cut 10,000 jobs. Just four months earlier, it let go 11,000 employees. "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," chief executive officer Mark Zuckerberg said in a message to staff. The second round of mass layoffs are part of a wider restructuring at Meta that will see the company flatten its organizational structure, cancel lower priority projects and reduce its hiring rates as part of the move. The layoffs underscore Zuckerberg's push to turn 2023 into the "Year of Efficiency" with promised cost cuts of $5 billion in expenses to between $89 billion and $95 billion. Since the start of 2022, the tech industry has laid off more than 280,000 workers.
#meta #facebook #markzuckerberg #layoffs #layoffs2023
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