Meta Platforms Inc. will begin company-wide layoffs on Wednesday as it restructures teams and works toward founder Mark Zuckerberg’s goal of greater efficiency.
Facebook’s parent company, via a memo seen by Bloomberg News, told executives to prepare to announce job cuts on Wednesday. It points out that Facebook, WhatsApp, Instagram, and Reality Labs — which houses the company’s virtual reality efforts and Quest hardware — will all be affected. The move is part of a cost-cutting drive that will eventually eliminate 10,000 jobs at the company, Zuckerberg announced in March. Another round of cuts is to follow in May.
Meta already cut around 13 percent of its workforce, or around 11,000 jobs, in November. It also extended a first-quarter hiring freeze that was punctuated by job and cost cuts at other Silicon Valley companies. Zuckerberg’s comments suggest the company would aim to become leaner, rebalancing the ratio of technologists and engineers to business and administrative staff.
The memo distributed to managers indicates that teams will be reorganized and various remaining staff will be reassigned to work under new managers.
Meta will ask all North American employees who can work from home Wednesday to do so to allow time to process the news, the document said.
A company spokesman declined to comment, citing Zuckerberg’s “Year of Efficiency.” post In March it said: “We expect to announce restructuring and layoffs in our technology groups at the end of April and then at our business units at the end of May.”
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