Meta will lay off 10,000 more workers in a second round of layoffs

March 14 (Reuters) – Meta Platforms Inc, which owns the social networks Facebook and Instagram as well as the messaging app WhatsApp, announced on Tuesday it had cut 10,000 jobs, becoming the first among US tech giants to announce a second round of massive redundancies.

Four months ago, Meta laid off 11,000 people.

“We expect to reduce our team size by approximately 10,000 people and close approximately 5,000 additional vacancies for which we have not yet hired people,” CEO Mark Zuckerberg said in a message to employees.

The layoffs are part of Meta’s broader restructuring.

This news caused a jump in the price of Meta’s shares – at 16:57 Moscow time the price of the paper increased by 5.8%.

Among other major US issuers, Microsoft Corp. announced in January that it would cut 10,000 jobs by the end of the third quarter of 2023.

The original message in English is available under the code: (Nivedita Balu in Bangalore, translated by Tomasz Kanik)


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