Meta has announced another round of sweeping layoffs in a bid to cut costs. CEO Mark Zuckerberg says the company is letting go of another 10,000 workers or so and closing "around 5,000 additional open roles that we haven’t yet hired."
Meta will reduce the size of its recruiting team imminently and inform affected employees on Wednesday. The company will then announce layoff and restructuring efforts of its tech departments in late April and business teams in late May. Zuckerberg said it might take until the end of 2023 to complete the process, but the timelines might be different for Meta's operations outside the US. After restructuring, Meta plans to lift the hiring freeze.