Meta plans 10,000 more job cuts in efficiency drive

Meta plans to cut around 10,000 jobs and withdraw about 5,000 unfilled roles, expanding Mark Zuckerberg’s “Year of Efficiency” into another workforce restructuring. The vacant positions are separate from the planned reduction in employees.

In a March 14 message to staff, Zuckerberg set out a sequence of announcements stretching across the spring. Recruiting employees are due to learn on March 15 whether they’re affected. Meta expects to announce changes and layoffs in its technology groups in late April, followed by its business groups in late May.

Some changes could take until the end of the year, and international teams will follow different schedules.

Fewer management layers and fewer projects

The reorganization is intended to remove several levels of management, with many managers moving into individual-contributor jobs. Meta also plans to cancel duplicated or lower-priority projects and increase the proportion of engineering roles relative to other jobs.

Hiring will slow during the changes. Zuckerberg says hiring and internal-transfer freezes should be lifted in each group after its restructuring. He acknowledges that announcing the cuts months ahead will leave employees facing a difficult period of uncertainty.

A lower expense forecast, including restructuring costs

In a separate March 14 securities disclosure, Meta lowered its preliminary forecast for total 2023 expenses to US$86–92 billion, from US$89–95 billion. The new range includes roughly US$3–5 billion for facilities consolidation, severance and other personnel costs, as well as the expected effect of the layoffs and other cost reductions.

Meta warns that economic conditions, regulation, litigation and the execution of its cost-reduction plans could change the outcome.

AI and metaverse investment remain priorities

Zuckerberg describes advancing AI and incorporating it into Meta’s products as the company’s largest investment. He also says its metaverse work remains central to its plans. The aim is to keep funding those longer-term projects while running smaller teams.

Photo: LPS.1, “Meta Platforms Headquarters Menlo Park California” (2022). CC0 1.0. Resized; cropped; responsive crops.