Meta announces 10,000 additional layoffs in restructuring plans
The company shared restructuring plans as part of its 'Year of Efficiency' which includes additional layoffs and reduced hiring rates.
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The company shared restructuring plans as part of its 'Year of Efficiency' which includes additional layoffs and reduced hiring rates.
Even after a mass layoff late in 2022, thousands of further jobs at the Meta company may be on the line this week as the company continues to cut costs.
Mark Zuckerberg revealed that while Reels is a popular feature, the company needs to improve its 'monetization efficiency' to better capitalize on its popularity.
It would seem that Meta was able to put up winning numbers when it came to revenue expectations for its Q4 2022 earnings results.
In a letter released by Mark Zuckerberg, the CEO said the cuts were because 'revenue outlook is lower' and a push to operate more efficiently.