Meta Platforms has announced job cuts across its organization, marking the final phase of a three-part round of layoffs announced in March, aiming to eliminate 10,000 positions. This week’s layoffs were primarily focused on business roles, while the April layoffs targeted tech teams. Meta also stopped recruiting for around 5,000 open roles, reports Tech Crunch.
Overall, about 21,000 people have been laid off by Meta, reducing global headcount by about a quarter since November
In March, Meta’s CEO Mark Zuckerberg outlined that the second round of layoffs would occur in three “moments over the course of several months, with the process largely concluding in May. He also mentioned the possibility of additional smaller rounds of layoffs taking place after that.
The layoffs are part of the company’s “year of efficiency.”
“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,” Zuckerberg said in March in a post.
Meta’s shares have risen 180% to $246.74 since bottoming at under $89 in November.