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Meta, the parent company of Facebook and Instagram, is cutting another 10,000 jobs

We plan to reduce our team by about 10,000 people and close approximately 5,000 vacancies that are not yet filled.Mark Zuckerberg said in a message to Meta employees on Tuesday morning.

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

These dismissals are part of the restructuring of the company, which in particular wants to cancel its lower priority projects and reduce its staffing. Mark Zuckerberg also indicated that the recruiting team will be among the first to be affected by the job cuts. We’ll let the hiring team members know if they’ll be affected tomorrow.

Layoff announcements will come in April 2023 for the technology teams and May 2023 for the commercial teams.

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

Our schedules for international teams also vary, and domestic captains will provide more detail for their teams.

It will be hard, but there is no way around these changes. »

Quote from Mark Zuckerberg, CEO of Meta, the parent company of Facebook and Instagram

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

Mark Zuckerberg has already announced that the year 2023 will be general efficiency For the meta, including billions of dollars in spending cuts.

Difficulties after good years

A shaky economy last year led to a series of mass layoffs across corporate America, from banks like Goldman Sachs and Morgan Stanley to tech companies like Amazon and Microsoft.

Meta has been hiring for years at a rapid pace, especially during the COVID-19 pandemic which has boosted mobile app usage, leading to even greater growth. At its peak last year, Meta had 87,000 full-time employees.

But the company has faced many challenges in recent months. Advertising revenue has plummeted because of inflation that has slashed many companies’ budgets, but also because of changes Apple made to the iPhone operating system (iOS), which restrict Meta’s ability to collect data about its users.

In 2022, Meta’s revenue shrank by 1% to $116.6 billion.

with information from ReutersAnd BBCAnd The New York TimesAnd And Agence France-Presse

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