The technology company Meta -owner of Facebook, Instagram and WhatsApp- announced Tuesday that it is going to cut another 10,000 jobs in the coming months and abandon plans to fill some 5,000 vacancies that it had open.
The new layoffs come after last November Meta announced the departure of some 11,000 workers, around 13 percent of its workforce, with the aim of reducing costs.
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“This is going to be hard and there is no way to avoid it,” said the firm’s top executive, Mark Zuckerberg, on Tuesday when announcing the decision, which he justified by an attempt to make the company more efficient.
Zuckerberg, in a statement, explained that during the next two months the leaders of the different Meta businesses will announce restructuring plans in which low-priority projects will be canceled and hiring will be reduced.
Given these plans, the company has decided to cut its human resources team and will begin to inform the affected employees tomorrow.
The restructuring and layoffs in the technology area will be announced at the end of April and in the business part towards the end of May, although in some cases the departures may last until the end of the year, Zuckerberg explained.
“In total, we expect to reduce the size of our team by about 10,000 people and close an additional 5,000 open positions that we haven’t hired yet,” he said.
The US social networking giant announced in November the first major round of layoffs in its history after increasing in size dramatically during the pandemic, a move that has been followed by many other companies in the technology sector.
In 2022, Meta saw its profits plummet by 41% in fiscal year 2022, to 23.2 billion dollars, with a small decrease in its billing and a significant increase in costs.
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Like other technology companies, it was affected by inflation, the weakness of the advertising market, the increase in competitors and the normalization of the demand for digital entertainment, which increased extraordinarily after the outbreak of the pandemic.