Facebook parent Meta to lay off another 10,000 workers

The company in February posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.

SHARE Facebook parent Meta to lay off another 10,000 workers
Companies such as Meta, which owns Facebook, rely on algorithms to control the flow of social information people see. Algorithms determine in part which messages, which people and which ideas social media users see.

Facebook parent Meta plans to lay off another 10,000 employees and not fill 5,000 vacant positions.

AP file

Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.

The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.

“This will be tough and there’s no way around that,” said CEO Mark Zuckerberg. “It will mean saying goodbye to talented and passionate colleagues who have been part of our success.”

The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. In February it posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.

The company announced 11,000 job cuts in November.

“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 and improving our business performance to enable our long term vision,” said Zuckerberg.

The Latest
The growth on state exams was led by Black students, CPS officials said. But preliminary math scores on state exams show students still lag behind.
Two males were driving a stolen gray Jeep when the driver lost control and crashed into a building in the 1000 block of North Ashland Avenue about noon Thursday.
The 23-year-old Shannon was accused of committing sexual assault last September while visiting Kansas for a football game between the Illini and the Jayhawks.
Hoffman Estates, ComEd and Compass Datacenters held a kickoff event to celebrate the redevelopment of Sears’ former headquarters into a massive data center campus.
A filmmaker and activist secretly recorded Alito at a dinner. Public officials, especially judges, won’t get into trouble if they maintain their composure and remember not to enlist in the culture wars.