Zuckerberg on Latest Big Job Cuts: 'This Will Be Tough'

Facebook parent Meta to slash 10K jobs in recruiting, tech, business through May
By Newser Editors and Wire Services
Posted Mar 14, 2023 8:57 AM CDT
Meta Cut 11K Jobs in November. Now, Another 10K
Meta's logo can be seen on a sign at the company's headquarters in Menlo Park, California, on Nov. 9.   (AP Photo/Godofredo A. V?squez, File)

Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May. "This will be tough, and there's no way around that," said CEO Mark Zuckerberg, per the AP. "It will mean saying goodbye to talented and passionate colleagues who have been part of our success."

The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. In February it posted lower fourth-quarter profits and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. The company announced 11,000 job cuts in November. "As I've talked about efficiency this year, I've said that part of our work will involve removing jobs—and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long-term vision," said Zuckerberg. In premarket trading, Meta shares rose 3.7%.

(More Meta stories.)

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