Meta Platforms Inc will begin cutting jobs across the company on Wednesday as it restructures teams and works to meet founder Mark Zuckerberg’s goal of greater efficiency this year.
Facebook’s parent company told executives they would likely prepare for job cut announcements on Wednesday, according to a memo seen by Bloomberg New.s. The document indicates that Facebook, WhatsApp, Instagram and Reality Labs, which house the company’s virtual reality efforts and Quest hardware, will be affected.
The move is part of a cost-cutting push that will eventually cut 10,000 positions at the company, as Zuckerberg announced in March.. A new round of cuts is expected to take place in May.
Meta already cut about 13% of its workforce, or about 11,000 jobs, in November. It has also extended the hiring freeze through the first, adding to the declining quarter for hiring and spending across the industry in Silicon Valley. Meta, in particular, aims to become more efficient and rebalance its ratio of technologists and engineers to sales and administrative staff.
The memo distributed to managers indicates that the teams will be reorganized and some remaining employees will be reassigned to work with new managers. Meta asked that US employees who can work from home do so on Wednesday to process the news, according to the memo..
Meta declined to comment on the document, referring instead to an email Zuckerberg made in March in which he declared 2023 the “year of efficiency” and set a timetable for announcing restructurings and layoffs at tech groups by the end of April. and then in business groups at the end of May.