Meta Will Fire Again 10,000 Employees Next Month, Mark Zuckerberg Keeps The Promise Of The Efficiency Year

Meta CEO Mark Zuckerberg kept his promise by planning to lay off 10,000 employees. (photo: Instagram @zuck)

JAKARTA - Meta CEO Mark Zuckerberg kept his promise by planning to lay off 10,000 employees. This latest move marks the second round of Termination of Work Relations (PHK) announced four months ago.

In a memo to its employees posted on the company's blog with the title Update on Meta's Year of Efficiency, Zuckerberg announced 10,000 employees would lose their jobs in the coming months.

"Meta is building a future human relationship, and today I want to share some updates about our Efficiency Year that will help us do that," Zuckerberg said.

The latest layoffs announced yesterday came after Meta said in November last year it laid off about 13 percent or 11,000 of its workforce, making it the biggest layoff event in Meta history.

"We hope to announce restructuring and layoffs in our tech group by the end of April, and then our business group by the end of May. In a small number of cases, it may take until the end of the year to complete this change," Zuckerberg said.

"Overall, we hope to reduce the size of our team by about 10,000 people and close about 5,000 additional vacancies that we have not employed," he added.

In September 2022, Meta reported the number of employees of 87,314, per securities submission. With 11,000 layoffs announced in November and the latest 10,000 layoffs, it will bring the number of Meta employees down to around 66,000 or a 25 percent drop.

Furthermore, Zuckerberg also admitted that his layoffs in November 2022 taught him to be slimmer and better.

"Since we reduced labor last year, one surprising result is that things are going faster. Sleeker organizations will carry out their highest priorities more quickly," Zuckerberg said.

"People will be more productive, and their work will be more fun and satisfying. We will be a bigger magnet for the most talented people. That's why in our Efficiency Year, we focus on canceling projects that are duplicate or of lower priority and making every organization as narrow as possible," he added.

A Wall Street Journal report says a new round of layoffs will likely be eyeing a non-technical role, and among the projects that will be discontinued are some of the wearable and ongoing devices at Reality Labs, Meta's hardware and metaverse division.

For your information, this layoff is Zuckerberg's promise made in his latest quarterly earnings report, in which he experienced a sharp decline in profit and a decrease in third-quarterly revenue in a row, as quoted by CNN International, Wednesday, March 15.

During the earnings call, Zuckerberg promised investors in 2023 it would be a year of efficiency for the company, after years of making large investments in growth and metaverse. On the call, Zuckerberg also stated that more layoffs would come.