Meta, the tech titan owning Facebook, Instagram, and WhatsApp, has concluded its last round of layoffs as part of a three-phase job reduction plan initiated in March this year, aiming to eliminate around 10,000 positions. LinkedIn updates revealed that employees from departments like marketing, corporate communications, data analytics, and recruitment were impacted by the downsizing. The specifics of the layoffs, however, have not been disclosed by Meta.
Earlier this year, Meta announced its second large-scale layoff, intended to bolster the company’s financial stability in a challenging business climate and actualize its long-term vision. As Meta CEO Mark Zuckerberg elucidated in a blog post, the restructuring plans entail flattening organizational hierarchies, discontinuing less critical projects, and scaling back recruitment rates.
Also Read: Pioneer in Digital Transformation, Manisha Seewal, Named Redhill’s President
Zuckerberg also anticipates additional restructuring and layoffs in their tech and business groups in the upcoming months. For international teams, the timelines may differ, with local leaders providing more detail in due course.
Post restructuring, Meta intends to lift hiring and transfer freezes across all groups. Zuckerberg added that Meta will continue to refine its distributed work model based on learnings from its hybrid work year. The company also seeks to steadily roll out developer productivity enhancements and process improvements throughout the year.
This strategic move follows Meta’s decision in November last year to lay off over 11,000 employees, constituting approximately 13% of its global workforce, and extend its hiring freeze. This news is based on a report by Marketing Interactive.
