Meta is trying to improve its business model with fewer workers and more efficiency —and moving the metaverse to a long-term vision.
In the midst of economic troubles in the United States, Meta, the social media juggernaut, has announced employment layoffs in order to remain competitive and continue to invest in the metaverse. On March 14th, Meta CEO and founder Mark Zuckerberg said that the firm will lay off 10,000 people in order to boost efficiency by 2023.
According to Zuckerberg, Meta’s key aims are to strengthen its technological prowess and financial performance in the midst of the country’s difficult economic situation. These activities are consistent with the company’s long-term goals.
He went on to say that in order to meet its objectives, the organization needs improve its productivity and development tools. It must also streamline its operations to eliminate redundant procedures and functions.
“In the coming months, our organizational leaders will unveil restructuring plans aimed at flattening our organizations, scrapping lower-priority projects, and lowering our recruitment rates. Given this hiring reduction, I have made the tough decision to further cut down the size of our recruiting team.”
Meta Massive Layoffs to Begin on March 15th
The CEO of Meta said that the next in a series of layoffs impacting 10,000 employees will begin tomorrow and will last three months. The corporation also announced the elimination of 5,000 jobs.
“Overall, we anticipate reducing our team size by roughly 10,000 people and closing about 5,000 other unfilled positions.”
As a result, a large section of the recruiting staff may be let off, and they will be notified on March 15th. Furthermore, the business intimated that additional reorganization and layoffs impacting the technical staff will be announced by late April. The final round of layoffs affecting the business team will take place in late May.
Zuckerberg warned that layoffs might continue throughout the year, even if it meant parting ways with great colleagues who helped the firm succeed.
