Meta's efficiency drive may see another 4,000 employees getting fired
What's the story
Social media giant Meta is set to begin a new round of layoffs today. The job cuts are part of Mark Zuckerberg's quest to make 2023 the "year of efficiency," one that involves a broader restructuring of the organization. According to Vox, the firm could fire around 4,000 employees. In its first round of layoffs in November 2022, the company axed 11,000 employees.
Context
Why does this story matter?
The post-pandemic economic meltdown has been hard on tech companies. Some of the major firms, including Amazon, Google, Meta, and Microsoft, have resorted to layoffs to rationalize their business. Meta's 2022 was also marked by a steep fall in advertising revenue and an intense rivalry with TikTok. The company and Zuckerberg want 2023 to be different.
Layoff
The job cuts will affect the technical team
Meta's decision to cut around 4,000 jobs is not unexpected. Last month, Zuckerberg announced the company's decision to fire about 10,000 staffers in the coming months. He had said the job cuts would affect technical teams in late April while the supporting business roles would be hit by layoffs in late May. The company aims to become more leaner and efficient this year.
Employees
Employees in Facebook, WhatsApp, Instagram, Reality Labs will be affected
The layoffs will affect teams working on Facebook, Instagram, WhatsApp, Messenger, and Reality Labs. This round of termination of engineers and technical staff is a rare moment of vulnerability for them at Meta. They have always enjoyed job security and high salaries at the company. Affected employees in North America will be notified by email between 4:00-5:00 am PT (4:30-5:30 pm IST).
Other countries
Senior leaders will reveal reorganized teams
Outside North America, the timelines would vary. On the other hand, some countries will not be affected by this round of job cuts. Meta's senior leaders on Wednesday are also expected to reveal their reorganized divisions following the layoffs. On top of that, employees will get an idea about whether they are getting a new manager today.
Official words
Layoffs were announced through an internal memo
"This will be a difficult time as we say goodbye to friends and colleagues who have contributed so much," wrote Lori Goler, Meta's head of human resources, in a memo. "It will take time for everyone—both those leaving and those staying—to process tomorrow's news, and I know teams will show up for each other with compassion, support, and care."