Tech company job's are still falling - Meta has announced further cuts to staff -10,000 employees being fired - And Mark says?
A surprise new blow to employees of Meta - Mark Zuckerberg's company ordered the layoff of a further 10,000 workers and announced it on the platform he founded with a long statement on which he explained why.
This is just the latest in what could see further job losses over the next 12-months - in what is seen as the technology sectors going through some major changes, Meta had already fired 10,000 employees back in November 2022.
In fact, as early as February this year (2023), the ‘ Financial Times ’ had announced that the drastic cuts would indeed come in March, a forecast that has proven to be accurate.
Tweet: I just shared this update on our Year of Efficiency with Meta employees...
Meta is building the future of human connection, and today I want to share some updates on our Year of Efficiency that will help us do that. The goals of this work are: (1) to make us a better technology company and (2) to improve our financial performance in a difficult environment so we can execute our long term vision.Read Marks post on Facebook.
During the announcement Mark Zuckerberg stated: “In the next two months, the leaders of the organization will announce restructuring plans focused on the flattening of our organizations, on the cancellation of projects with lower priorities and on the reduction of our hiring rates. With less hiring, I made the difficult decision of reduce further the size of our recruitment team. Tomorrow we will let the members of the recruitment team know if they are interested ”.
He added: “ Overall, we plan to reduce our team size by around 10,000 people and to close around 5,000 additional open positions that we have not yet taken.
It will be tough but there is no way to avoid it. It will mean saying goodbye to colleagues and talented fans which contributed to our success ”
Source: Facebook, META