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Meta Platforms has started carrying out job cuts announced by the social media giant earlier this week, starting with 1 500 employees in recruiting and human resources, according to people familiar with the matter.
During an internal meeting with employees, Chief Executive Officer Mark Zuckerberg told employees the economic climate of layoffs and restructuring could last “many years,” the people said, asking not to be identified speaking about internal matters.
The first wave of cuts were explained to Meta executives Thursday morning, said the people.
On March 14, Zuckerberg said Meta planned to lay off about 10 000 employees and eliminate 5 000 open roles, but not all of the people who are affected have been notified yet. For instance, layoffs in engineering are scheduled for April. In November the company cut 11 000 people, or 13 PERCENT of its staff.
Zuckerberg told employees on Thursday that those cuts were more tied to performance, but the more recent cuts were due to financial need and product priorities, the people said.
A spokesperson for Meta declined to comment on the cuts. – Bloomberg
Online Reporter