ÐÇ¿Õ´«Ã½

Skip to main content

Meta's latest round of layoffs is underway

Meta CEO Mark Zuckerberg said in March that restructurings and layoffs in Meta's tech groups would take place in April. (Josh Edelson/AFP/Getty Images)

Meta CEO Mark Zuckerberg said in March that restructurings and layoffs in Meta's tech groups would take place in April. (Josh Edelson/AFP/Getty Images)
Share

Facebook parent Meta on Wednesday began its latest round of layoffs focusing on technical workers, who are often thought of as more immune to job cuts in Silicon Valley.

Meta spokesperson Nkechi Nneji confirmed to CNN that some previously announced layoffs were taking place Wednesday, and pointed to CEO Mark Zuckerberg's March announcement that the company would cut another 10,000 employees in the coming months.

Zuckerberg's notice said that restructurings and layoffs in Meta's tech groups would take place in April. Among those affected by Wednesday's layoffs were members of the company's sustainability, well-being, user experience, news feed and messaging teams, according to public LinkedIn posts.

Meta reportedly told North American employees to work from home on Wednesday in anticipation of the layoffs. (CNN has not independently confirmed that.)

Members of Meta's recruiting team were notified of additional layoffs last month, and cuts to the company's business groups are expected to take place in late May.

The 10,000 job reductions mark the second recent round of significant job cuts at Meta. The company said in November that it was eliminating approximately 13 per cent of its workforce, or 11,000 jobs, in the single largest round of cuts in its history.

In September, Meta reported a headcount of 87,314, per a securities filing. With 11,000 job cuts announced in November and the 10,000 announced last month, Meta's headcount will fall to around 66,000 — a total reduction of about 25 per cent.

Meta has said the layoffs are part of its "year of efficiency," as the company attempts to engineer a turnaround following repeated revenue declines, heightened competition, concerns about user growth and big losses in its Reality Labs division amid its pivot to building the so-called metaverse. Zuckerberg has also taken responsibility for over-hiring earlier in the pandemic, when there was strong demand for the company's products and online advertising, which dropped off somewhat once the world reopened.

Zuckerberg said last month that, in some cases, it may take through the end of this year to complete its staff restructuring processes.

"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 his March statement.

Meta is set to report earnings for the first three months of 2023 next week, during which Wall Street analysts expect it to post its fourth straight quarterly decline in revenue and a more than 30 per cent decline in profits. Still, Meta's shareholders appear to have been reassured by Zuckerberg's plans for efficiency — the company's shares were up more than 70 per cent year-to-date as of midday Wednesday.

CTVNews.ca ÐÇ¿Õ´«Ã½

The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

B.C.'s police watchdog is investigating the death of a woman who was shot by the RCMP after allegedly barricading herself in a room with a toddler early Thursday morning.

Local Spotlight

They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

A daytrip to the backcountry turned into a frightening experience for a Vancouver couple this weekend.

Stay Connected