Meta, the parent company of Facebook and Instagram, has cut another 10,000 jobs

We plan to reduce our team by approximately 10,000 people and close approximately 5,000 open positions that have not yet been filled.Mark Zuckerberg said in a message to Meta employees Tuesday morning.

At the end of these two waves, Meta will reduce its workforce by 24%.

The layoffs are part of the company’s restructuring, which has seen it particularly want to cancel low-priority projects and reduce its hiring. Mark Zuckerberg also indicated that the recruitment team would be the first to be affected by the job cuts. We will let you know tomorrow if the recruitment team members will be affected.

Layoff notices will come in April 2023 for technical teams and in May 2023 for commercial teams.

In some cases, it may be necessary to wait until the end of the year to make these deletionsMark Zuckerberg added.

Our timelines are also different for international teams and local leaders provide more details for their teams.

” It will be difficult, but these changes are not inevitable. »

The announcement sent Meta shares up 2% before markets opened.

Mark Zuckerberg has already announced 2023 Efficiency year For Meta, including cutting billions of dollars in spending.

Trouble after good years

The shaky economy over the past year has led to massive layoffs across corporate America, from banks like Goldman Sachs and Morgan Stanley to tech companies like Amazon and Microsoft.

Meta has been hiring at a rapid pace for years, especially during the COVID-19 pandemic, fueling the use of mobile apps and driving further growth. At its peak last year, Meta had 87,000 full-time employees.

But the company has been facing several challenges in the past few months. Its advertising revenues have fallen due to inflation, which cuts many companies’ budgets, but also due to changes made to the iPhone’s (iOS) operating system that limit Apple’s ability to collect data about its users.

In 2022, Meta’s revenue is expected to decline by 1% to US$116.6 billion.