Meta Laid off Over 1500 employees in HR and other departments
The technology company has attributed the recent layoffs to over-staffing during a period of rapid growth and a desire to remain competitive in the marketplace.
Meta Laid off Over 1500 employees in HR and other departments
Meta has laid off over 1500 employees after announcing it would part with 10,000, according to Bloomberg. The fresh round of layoffs at Meta laid off over 1500 employees in HR and other departments.
The company expects the restructuring to continue for several years, which may lead to more layoffs.
The technology company has attributed the recent layoffs to over-staffing during a period of rapid growth and a desire to remain competitive in the marketplace.
However, as the company’s growth rate has slowed and revenues have declined, Meta has now reduced its workforce and is focusing on improving efficiency and overall results.
It is worth noting, however, that this is separate from the previously announced plan to cut 10,000 jobs. The new round of layoffs affects employees in the HR and recruitment departments.
Mark Zuckerberg, CEO of Meta, made the announcement in an official email, in which he spoke about the financial difficulties the company is going through considering the current economic downturn. In the email, Zuckerberg stated that the company would not be laying off all of its employees at once.
Zuckerberg mentioned that the announced job cuts in engineering and other departments will take place in April, while the layoffs will affect business units at the end of May this year. Zuckerberg also mentioned that once the layoffs are complete, Meta plans to lift the hiring and transfer freeze in certain groups.
This may come as a surprise, as the tech company has already laid off 12,500 employees and plans to cut another 8,500 jobs in the coming months.
During the first round of layoffs, Meta had promised to offer severance packages to affected employees. However, there is no confirmation whether the latest group of laid-off workers will receive compensation.
Zuckerberg confirmed in his stern letter to employees last week that the company intends to eliminate 5,000 open positions.
