Meta To Start Laying Off Employees Next Week In Latest Round Of Layoffs

In a recent announcement, the parent company of popular social media platforms, including WhatsApp, Facebook, and Instagram, Meta, informed its employees of a round of layoffs slated for next week.

The company’s executives shared this news during a Q&A session with employees, marking another wave of job cuts to streamline operations and increase efficiency.

This information aligns with the company’s move in February 2023 to increase the repurchase of its share authorization by about $40 billion.

Meanwhile, the layoffs will primarily impact Meta’s business departments, potentially affecting many employees in those teams.

Meta To Cut Down On Staff Capacity

Meta notified employees about the impending layoffs through an internal memo. During the company-wide meeting, Meta’s president of global affairs, Nick Clegg, acknowledged the heightened anxiety and uncertainty surrounding the impending layoffs.

Clegg expressed his admiration for the resilience and professionalism the employees displayed in the face of these challenging circumstances, recognizing the difficult time ahead for those affected.

Notably, the layoff process is expected to follow a similar pattern to the previous round of cuts in April, which saw the elimination of 4,000 positions in Meta’s technical departments.

Meanwhile, Clegg noted that Meta’s head of people would release a note to employees detailing the specifics of May’s layoff process, including the start time and the teams that will be impacted.

The affected employees will first receive the notice, followed by those who are not directly affected.

While Meta’s executives did not disclose the exact magnitude of the upcoming round of layoffs, Zuckerberg had previously stated in March that the company aimed to eliminate 10,000 positions by the end of May.

Zuckerberg already had a vision for this year, known as the Year of Efficiency, and this aligns with the company’s move to cut down on its staff capacity.

Meta’s Decision Aligns With The Trend Of Tech Firms

This strategic move is part of a broader trend observed among major tech companies, compelled to reassess their workforce and streamline operations.

The pandemic-induced over hiring and substantial shifts in the tech industry have prompted these companies to tighten their belts.

The impact of Meta layoffs extends beyond the company itself, reflecting the challenges faced by Silicon Valley.

The region’s tech industry has witnessed an economic downturn, forcing companies to reevaluate their spending practices and adjust to the new normal.

Major Layoffs In 2023

Several prominent tech companies have announced significant layoffs, adding to the growing list of job losses in the sector. A few prominent examples to note include TuSimple, Nuro, and LinkedIn.

TuSimple, a leading autonomous trucking technology company, revealed on May 18 that it would be implementing a substantial reduction in its workforce.

The company announced that approximately 30% of its employees would be laid off. Before the layoff, TuSimple boasted around 550 employees in the United States.

Secondly, Nuro, a renowned autonomous delivery startup, joined the wave of layoffs by announcing on May 12 that it would be cutting approximately 30% of its workforce.

This decision translates to about 340 employees across various departments within the company. Considering Nuro’s previous growth and success in the autonomous delivery market, the move is a surprise.

Also, the popular professional networking platform, LinkedIn, made headlines with its recent downsizing efforts.

On May 8, the company announced that it would eliminate 716 jobs, accounting for approximately 3.6% of its workforce. Additionally, LinkedIn revealed plans to phase out its local jobs app in China. 

However, in a somewhat contradictory move, the company also stated that it intends to create around 250 new job opportunities later in the month.