Meta is cutting jobs again. On Tuesday, CEO Mark Zuckerberg said the company plans to eliminate 10,000 jobs and close hiring on 5,000 open positions. In November the social media giant laid off about 11,000 workers.
The job cuts are part of what Meta is calling its "year of efficiency," marked by corporate restructuring and efforts the company says will improve its organizational effectiveness and financial standing.
In the coming months, managers will announce restructuring to flatten the organization, cancel lower-priority projects and reduce hiring, Zuckerberg said in a memo sent to employees and posted on Meta's press site. He also referenced plans to trim the size of Meta's recruiting team.
The layoffs are the latest in this year's bout of tech industry job cuts. This year alone, tech giants like Alphabet, Microsoft, Spotify, Twitter, Zoom and more have eliminated jobs, forcing tens of thousands of employees out of work.