MARK ZUCKERBURG AND META ANNOUNCE 10,000 LAYOFFS TO COME TO FACEBOOK PARENT COMPANY
Written by Randy C on March 15, 2023
The Meta company is making headlines after the Facebook-parent company announced a layoff of an additional 10,000 workers. This is the company’s second round of job cuts in the past four months.
According to CNN Business, CEO Mark Zuckerburg revealed the job cuts will occur “over the next couple months.”
In a memo, Zuckerburg wrote, “We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May.
The complete run of layoffs is believed to take as long as the end of 2023 to complete.
“At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” Zuckerberg added. “Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation.”