{"id":2424,"date":"2023-03-16T18:02:45","date_gmt":"2023-03-16T23:02:45","guid":{"rendered":"https:\/\/embarrdowns.com\/mark-zuckerberg-announces-10000-job-cuts-at-meta\/"},"modified":"2023-03-16T18:02:45","modified_gmt":"2023-03-16T23:02:45","slug":"mark-zuckerberg-announces-10000-job-cuts-at-meta","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/mark-zuckerberg-announces-10000-job-cuts-at-meta\/","title":{"rendered":"Mark Zuckerberg Announces 10,000 Job Cuts at Meta"},"content":{"rendered":"

On Tuesday, Mark Zuckerberg announced that Meta, the company he founded, would lay off 10,000 employees and close 5,000 open job listings.[0]<\/a><\/sup> This follows a similar round of layoffs in November which saw 11,000 people let go.[1]<\/a><\/sup> The CEO described it as the \u201cyear of efficiency,\u201d and the move is intended to reduce costs and improve the company\u2019s distributed work model. <\/p>\n

The layoffs will impact teams working on wearable devices as part of the Reality Labs hardware and metaverse division.[2]<\/a><\/sup> Meta will reduce the size of its recruiting team and inform affected employees later today.[3]<\/a><\/sup> Layoff and restructuring efforts of its tech departments will be announced in late April and business teams in late May.[4]<\/a><\/sup><\/p>\n

The new economic reality \u201cleads to slower growth and increased costs of innovation,\u201d Zuckerberg said.[5]<\/a><\/sup> \u201cAt this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.\u201d[6]<\/a><\/sup><\/p>\n

The CEO also encouraged employees to find more opportunities to work with their colleagues in person, as research suggests that engineers who join Meta in-person perform better on average than those who join remotely.[7]<\/a><\/sup><\/p>\n

The layoffs have been met with disappointment from those affected. Levy, 35, was part of Meta\u2019s \u201cSourcer Development Program\u201d which was designed to recruit workers from underrepresented backgrounds.[8]<\/a><\/sup> She was laid off after seven months and didn\u2019t sign a severance package.[9]<\/a><\/sup><\/p>\n

Silicon Valley VC Keith Rabois of the so-called PayPal Mafia said that Big Tech companies like Meta and Google had hired thousands of people to do \u201cfake work\u201d to hit hiring metrics out of \u201cvanity.\u201d[10]<\/a><\/sup><\/p>\n

It\u2019s unclear how the layoffs will impact Meta in the long run, but the company is gambling on investing in the metaverse and other areas may take a hit as a result. Despite the disappointment, employees are relieved to finally know their fate.<\/p>\n

0. <\/span>“Zuckerberg returns Silicon Valley to regularly scheduled programming: Morning Brief” Yahoo News, 15 Mar. 2023, https:\/\/news.yahoo.com\/zuckerberg-returns-silicon-valley-to-regularly-scheduled-programming-morning-brief-093017158.html<\/a><\/a><\/p>\n

1. <\/span>“Meta to lay off another 10,000 as Zuckerberg celebrates \u201cyear of efficiency\u201d” Ars Technica, 14 Mar. 2023, https:\/\/arstechnica.com\/tech-policy\/2023\/03\/meta-to-lay-off-another-10000-as-zuckerberg-celebrates-year-of-efficiency<\/a><\/a><\/p>\n

2. <\/span>“Zuckerberg touts ‘year of efficiency’ as Meta lays off an additional 10,000 workers” Engadget, 14 Mar. 2023, https:\/\/www.engadget.com\/zuckerberg-touts-year-of-efficiency-as-meta-lays-off-an-additional-10000-workers-131957819.html<\/a><\/a><\/p>\n

3. <\/span>“Facebook Parent Meta to Cut Another 10K Jobs” CNET, 14 Mar. 2023, https:\/\/www.cnet.com\/tech\/services-and-software\/facebook-parent-meta-to-cut-another-10k-jobs\/<\/a><\/a><\/p>\n

4. <\/span>“The Morning After: Meta lays off an additional 10,000 workers” Engadget, 15 Mar. 2023, https:\/\/www.engadget.com\/the-morning-after-meta-lays-off-an-additional-10000-workers-115209372.html<\/a><\/a><\/p>\n

5. <\/span>“Meta Cuts Another 10,000 Jobs” Forbes, 14 Mar. 2023, https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/03\/14\/meta-cuts-another-10000-jobs<\/a><\/a><\/p>\n

6. <\/span>“Meta Platforms Stock: Due For A Time Correction?” Seeking Alpha, 16 Mar. 2023, https:\/\/seekingalpha.com\/article\/4587900-meta-platforms-stock-due-time-correction<\/a><\/a><\/p>\n

7. <\/span>“Mark Zuckerberg says engineers who joined Meta in-person perform better than those who joined remotely” TechCrunch, 14 Mar. 2023, https:\/\/techcrunch.com\/2023\/03\/14\/mark-zuckerberg-says-engineers-who-joined-meta-in-person-perform-better-than-those-who-joined-remotely\/<\/a><\/a><\/p>\n

8. <\/span>“Laid Off Meta Employee Says the ‘Fake Work’ Stories Are True” Entrepreneur, 15 Mar. 2023, https:\/\/www.entrepreneur.com\/business-news\/laid-off-meta-employee-says-the-fake-work-stories-are-true\/447676<\/a><\/a><\/p>\n

9. <\/span>“Meta \u2018hoarded us like Pokemon cards\u2019: Former staffer reveals she had to \u2018fight for work\u2019 at company” Yahoo Life, 16 Mar. 2023, https:\/\/www.yahoo.com\/lifestyle\/meta-hoarded-us-pokemon-cards-120104362.html<\/a><\/a><\/p>\n

10. <\/span>“Laid-off Meta worker says company paid her to not work” Business Insider, 14 Mar. 2023, https:\/\/www.businessinsider.com\/laid-off-meta-employee-says-paid-not-to-work-2023-3<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, Mark Zuckerberg announced that Meta, the company he founded, would lay off 10,000 employees and close 5,000 open job listings.[0]<\/a><\/sup> This follows a similar round of layoffs in November which saw 11,000 people let go.[1]<\/a><\/sup> The CEO described it as the \u201cyear of efficiency,\u201d and the move is intended to reduce costs and improve the company\u2019s distributed work model. <\/p>\n

The layoffs will impact teams working on wearable devices as part of the Reality Labs hardware and metaverse division.[2]<\/a><\/sup> Meta will reduce the size of its recruiting team and inform affected employees later today.[3]<\/a><\/sup> Layoff and restructuring efforts of its tech departments will be announced in late April and business teams in late May.[4]<\/a><\/sup><\/p>\n

The new economic reality \u201cleads to slower growth and increased costs of innovation,\u201d Zuckerberg said.[5]<\/a><\/sup> \u201cAt this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.\u201d[6]<\/a><\/sup><\/p>\n

The CEO also encouraged employees to find more opportunities to work with their colleagues in person, as research suggests that engineers who join Meta in-person perform better on average than those who join remotely.[7]<\/a><\/sup><\/p>\n

The layoffs have been met with disappointment from those affected. Levy, 35, was part of Meta\u2019s \u201cSourcer Development Program\u201d which was designed to recruit workers from underrepresented backgrounds.[8]<\/a><\/sup> She was laid off after seven months and didn\u2019t sign a severance package.[9]<\/a><\/sup><\/p>\n

Silicon Valley VC Keith Rabois of the so-called PayPal Mafia said that Big Tech companies like Meta and Google had hired thousands of people to do \u201cfake work\u201d to hit hiring metrics out of \u201cvanity.\u201d[10]<\/a><\/sup><\/p>\n

It\u2019s unclear how the layoffs will impact Meta in the long run, but the company is gambling on investing in the metaverse and other areas may take a hit as a result. Despite the disappointment, employees are relieved to finally know their fate.<\/p>\n

0. <\/span>“Zuckerberg returns Silicon Valley to regularly scheduled programming: Morning Brief” Yahoo News, 15 Mar. 2023, https:\/\/news.yahoo.com\/zuckerberg-returns-silicon-valley-to-regularly-scheduled-programming-morning-brief-093017158.html<\/a><\/a><\/p>\n

1. <\/span>“Meta to lay off another 10,000 as Zuckerberg celebrates \u201cyear of efficiency\u201d” Ars Technica, 14 Mar. 2023, https:\/\/arstechnica.com\/tech-policy\/2023\/03\/meta-to-lay-off-another-10000-as-zuckerberg-celebrates-year-of-efficiency<\/a><\/a><\/p>\n

2. <\/span>“Zuckerberg touts ‘year of efficiency’ as Meta lays off an additional 10,000 workers” Engadget, 14 Mar. 2023, https:\/\/www.engadget.com\/zuckerberg-touts-year-of-efficiency-as-meta-lays-off-an-additional-10000-workers-131957819.html<\/a><\/a><\/p>\n

3. <\/span>“Facebook Parent Meta to Cut Another 10K Jobs” CNET, 14 Mar. 2023, https:\/\/www.cnet.com\/tech\/services-and-software\/facebook-parent-meta-to-cut-another-10k-jobs\/<\/a><\/a><\/p>\n

4. <\/span>“The Morning After: Meta lays off an additional 10,000 workers” Engadget, 15 Mar. 2023, https:\/\/www.engadget.com\/the-morning-after-meta-lays-off-an-additional-10000-workers-115209372.html<\/a><\/a><\/p>\n

5. <\/span>“Meta Cuts Another 10,000 Jobs” Forbes, 14 Mar. 2023, https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/03\/14\/meta-cuts-another-10000-jobs<\/a><\/a><\/p>\n

6. <\/span>“Meta Platforms Stock: Due For A Time Correction?” Seeking Alpha, 16 Mar. 2023, https:\/\/seekingalpha.com\/article\/4587900-meta-platforms-stock-due-time-correction<\/a><\/a><\/p>\n

7. <\/span>“Mark Zuckerberg says engineers who joined Meta in-person perform better than those who joined remotely” TechCrunch, 14 Mar. 2023, https:\/\/techcrunch.com\/2023\/03\/14\/mark-zuckerberg-says-engineers-who-joined-meta-in-person-perform-better-than-those-who-joined-remotely\/<\/a><\/a><\/p>\n

8. <\/span>“Laid Off Meta Employee Says the ‘Fake Work’ Stories Are True” Entrepreneur, 15 Mar. 2023, https:\/\/www.entrepreneur.com\/business-news\/laid-off-meta-employee-says-the-fake-work-stories-are-true\/447676<\/a><\/a><\/p>\n

9. <\/span>“Meta \u2018hoarded us like Pokemon cards\u2019: Former staffer reveals she had to \u2018fight for work\u2019 at company” Yahoo Life, 16 Mar. 2023, https:\/\/www.yahoo.com\/lifestyle\/meta-hoarded-us-pokemon-cards-120104362.html<\/a><\/a><\/p>\n

10. <\/span>“Laid-off Meta worker says company paid her to not work” Business Insider, 14 Mar. 2023, https:\/\/www.businessinsider.com\/laid-off-meta-employee-says-paid-not-to-work-2023-3<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":2423,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2424"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=2424"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/2423"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=2424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=2424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=2424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}