Xinhua
15 Mar 2023, 03:00 GMT+10
SAN FRANCISCO, March 14 (Xinhua) -- U.S. tech giant Meta said on Tuesday that the company is cutting an additional 10,000 workers in its second round of massive layoffs.
"This will be tough and there's no way around that," Meta CEO Mark Zuckerberg said, adding that the layoffs will be in service of building a leaner, more technical company and improving business performance to enable long-term vision.
The layoffs will hit recruiting, tech, business and international teams and may take until the end of the year to complete, Zuckerberg noted.
The parent company of Facebook, Instagram and WhatsApp previously laid off around 11,000 workers in November 2022. With 21,000 total layoffs, the Menlo Park-based social media company has made the deepest cuts among tech companies so far, exceeding Amazon's 18,000 cuts.
In Meta's February earnings report, Zuckerberg told investors that the company's management theme for 2023 is the "Year of Efficiency."
Meta's workforce at the end of 2022 was up 20 percent from the prior year and nearly double its size before the pandemic in 2019. The two rounds of layoffs are expected to reduce the company's headcount to around 65,000 workers.
Get a daily dose of Broadcast Communications news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.
More InformationNEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
Birmingham [UK], July 7 (ANI): Indian pacer Akash Deep mesmerised one and all with a ten-wicket haul in a critic-silencing, era-defining...
Birmingham [UK], July 7 (ANI): Following his side's win over England, Indian pacer Akash Deep revealed that he played the match because...
Paris is withdrawing its troops after the African country scrapped a decades-old defense agreement France has handed over a military...
New Delhi [India], July 1 (ANI): On the occasion of the approval of the new 'Khelo Bharat Niti 2025', Prime Minister Narendra Modi...
Mumbai (Maharashtra) [India], July 1 (ANI): The Indian Institute of Creative Technologies (IICT) opens admissions for its first batch...
New Delhi [India], July 1 (ANI): In a significant step to bolster India's research and innovation ecosystem, the Union Cabinet on Tuesday...