Facebook parent Meta has announced that it’s slashing another 10,000 jobs and won’t fill 5,000 open position, as the beleaguered social media giant struggles to cut costs amid profit pressure.
Meta CEO Mark Zuckerberg broke the bad news to staff in a statement on Tuesday, in which he gave an update on the company’s “Year of Efficiency” efforts to slash costs.
“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,” Zuckerberg said.
The widely anticipated job cuts are part of a broader restructuring at Meta that includes canceling lower-priority projects, flattening layers of middle management, and “dramatically” boosting developer productivity….