Meta plans to cut its workforce by another 10,000 people, withdraw around 5,000 open roles that it has not filled and cancel some projects, company’s founder and chief executive Mark Zuckerberg said Tuesday, just four months after eliminating about 11,000 roles as the social giant chases to become more efficient this year.

The Facebook-parent firm said it expects the restructuring and layoffs in its tech groups to start in April and the process to impact business groups in May. As part of the broader restructuring, the company will also cancel its lower priority projects, it said, adding that it “underestimated the indirect costs of lower priority projects.”

“This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success. They’ve dedicated themselves to our mission and I’m personally grateful for all their efforts,” he wrote in a memo to employees that the company has since made public.

“After restructuring, we plan to lift hiring and transfer freezes in each group. Other relevant efficiency timelines include targeting this summer to complete our analysis from our hybrid work year of learning so we can further refine our distributed work model. We also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year,” he wrote in a memo to employees that the company has since made public.

More to follow.

Meta to cut another 10,000 jobs, Zuckerberg says by Manish Singh originally published on TechCrunch