Menlo Park – On Wednesday, Meta began its most recent wave of layoffs, which is set to result in around 6,000 job losses. These layoffs are a result of Meta being extensively reformed as part of the company’s so-called “Year of Efficiency,” which aims to simplify the organizational structure and save money.
Even though Meta previously reduced 11,000 roles in November, founder and CEO Mark Zuckerberg indicated in a March blog post that he will lose 10,000 workers during two rounds of layoffs in late April and late May. While the April layoffs mostly affected IT teams, this week’s layoffs focused on business jobs.
Additionally, Meta has halted hiring for its 5,000 available positions. About 21,000 individuals have lost their employment at Meta overall, resulting in a decrease in the company’s global workforce from 87,000.
In a blog post from March, Zuckerberg stated that “many things have gone faster since we reduced our workforce last year.”
“I overestimated the indirect costs of lower priority projects in retrospect”, he said.
Morale at Meta is unsurprisingly low given that hundreds of employees have left the organization. Employees have been waiting anxiously for months to find out if they would lose their jobs. If being let go wasn’t traumatic enough, for some workers, it may also mean losing their health insurance or a work permit.
This should be Meta’s final round of major layoffs for the time being if the company follows through with its stated goals. Hopefully, it holds true for a long for the sake of the company’s surviving employees.
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