Meta, the social media company, will continue to shed part of its workforce, recently announcing 10,000 new layoffs to be executed during 2023 as part of its new efficiency policy. Mark Zuckerberg, CEO of the company, stated that artificial intelligence (AI) was currently the company’s most prominent investment, even over the metaverse.
Meta Announces 10,000 Layoffs, Striving to Achieve Sustainability
Meta, the parent company of platforms like Facebook, Instagram, and Whatsapp, has announced a new set of moves as part of its “year of efficiency” policy. In a Facebook post, Meta CEO Mark Zuckerberg announced a new round of 10,000 layoffs, which will be executed during the remainder of 2023. Furthermore, he stated that 5,000 open hiring spots will be closed.
Zuckerberg explained that these layoffs were the consequence of the new economic configuration that the U.S. and the world are currently facing. In this sense, Zuckerberg declared:
Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation. Given this outlook, we’ll need to operate more efficiently than our previous headcount…