For the second time in less than six months, Facebook parent company Meta is announcing a round of layoffs.
After cutting 11,000 jobs back in November, Meta has announced it will cut another 10,000 jobs this spring in what CEO Mark Zuckerberg called a “restructuring” in a statement posted to Meta’s website.
In addition to the new layoffs, Meta said it will not fill some 5,000 open positions.
“This will be tough and there’s no way around that,” Zuckerberg said in his message to employees.
The moves come after Meta and other tech companies hired aggressively over the last two years. IBM, Microsoft, Amazon, Salesforce, Twitter and DoorDash have all recently announced layoffs
Zuckerberg said Meta 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.
“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,” Zuckerberg said. “At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.”