Meta, the owner of Facebook, will lay off another 10,000 employees

Meta, the owner of Facebook, will lay off another 10,000 employees

Facebook owner Meta to lay off another 10,000 employees

The logo of Meta, the operator of the Facebook and Instagram social networks, at the company's headquarters in Menlo Park, California.

Menlo Park (USA) – The American Internet company Meta Platforms, which owns the social networks Facebook and Instagram or the communication service WhatsApp, will lay off another 10,000 workers. In the messageCEO Mark Zuckerberg told employees today. Meta is the first major technology company in the United States to announce a second round of layoffs.

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Meta already said before the end of last year that it would eliminate about 11,000 jobs, which was about 13 percent of the workforce. It was the biggest layoff in the company's 18 years of existence. At the end of last year, the company had almost 86,500 employees, Reuters reported.

“We expect to reduce the size of our team by approximately 10,000 people and eliminate approximately 5,000 additional open positions for which we have not yet hired,” Zuckerberg said.

The layoffs are part of a broader restructuring of the company that will simplify the organizational structure, cancel less priority projects and reduce the number of employees. Zuckerberg's aim is to turn 2023 into the “year of efficiency” and cut costs by five billion USD (more than 111 billion CZK). Sachs and Morgan Stanley to major tech firms including Amazon and Microsoft. According to layoffs monitoring site, the tech sector has laid off more than 280,000 workers since the beginning of last year, roughly 40 percent of them this year.

Meta Platforms is investing billions of dollars in building a futuristic metaverse. But the company is struggling with a post-pandemic slump in advertising spending from companies troubled by high inflation and rising interest rates.