Meta to cut 10,000 more workers, close 5,000 opened positions
Meta CEO Mark Zuckerberg said the cuts will prepare the social media giant for a new economic reality that will continue for "many years."
Meta, the parent company of Facebook and Instagram, announced plans Tuesday to lay off 10,000 more employees and close about 5,000 job openings that have not yet been filled.
Meta already cut its workforce by 11,000 employees, or 13%, in November amid lowered revenue. Tuesday's announcement means the company is losing yet another 13% of its workforce.
"At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years," Meta CEO Mark Zuckerberg said, citing higher interest rates and geopolitical instability.