Meta lays off another 10,000 employees
NJust a few months after extensive job cuts, Meta followed up with another austerity program. The American Internet company announced on Tuesday that it would be separating from 10,000 employees. In addition, 5000 open positions that have not yet been filled should be deleted. In November, Meta announced that it would cut 11,000 jobs.
“We have to work more efficiently,” said the CEO Mark Zuckerberg in a message to the workforce, and the first job cuts are not enough for that. When presenting the business results at the beginning of February, Zuckerberg had already proclaimed a “Year of Efficiency” for his company. He also said at the time that the layoffs announced so far were just the beginning of a greater focus on efficiency and hinted at further steps to cut costs.
Zuckerberg somberly described Meta’s position in announcing the renewed downsizing: “The past year has been a humbling wake-up call. The global economy has changed, competitive pressures have increased, and our growth has slowed significantly.” Zuckerberg was also pessimistic about the future: “I think we have to brace ourselves for the possibility that this new economic reality will last for many years .”
Meta suffered a drop in sales in 2022 for the first time in its history. The company is struggling in a difficult environment in the advertising business, its main source of income. He is also struggling with increased competition from the smartphone app Tiktok. Also, stricter data rules on Apple devices impede the collection of user information, making it harder to tailor ads to individual users.