Meta to lay off 10,000 more workers after initial cuts in November
Publishing timestamp: 2023-03-14 22:48:30
Summary
Meta CEO Mark Zuckerberg announced plans to cut 10,000 employees and cancel lower priority projects in an effort to increase efficiency and reduce expenses. The company previously laid off over 11,000 employees in November. Zuckerberg warned of continued economic instability and the need to prepare for a new economic reality that could last for many years. The restructuring is expected to result in lowered total expenses in 2023, but the company continues to invest billions in developing virtual and augmented reality technologies for the metaverse. Other tech companies, including Amazon, Google, Microsoft, and Salesforce, have also announced significant layoffs in recent months.
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Keywords: mobile, social media, business news, mark zuckerberg, technology, breaking news: technology, internet, meta platforms inc,
Source: https://www.cnbc.com/2023/03/14/meta-layoffs-10000-more-workers-to-be-cut-in-restructuring.html