Meta announces a further reduction of approximately 10,000 employees and the closure of around 5,000 unfilled positions
In November 2022, Meta’s founder and CEO, Mark Zuckerberg, issued a company-wide letter, confirming the layoff of over 11,000 employees, approximately 13% of the total workforce. This marked the largest scale layoff action in the company’s history. Four months later, Meta announced further layoffs, planning to cut around 10,000 employees and close approximately 5,000 unfilled positions.
Zuckerberg previously declared 2023 as the “year of efficiency” for Meta, aiming to create a more robust and agile enterprise. In the upcoming months, the company will announce a restructuring plan, flattening the management structure, canceling lower-priority projects, and reducing the hiring rate. Due to the decrease in recruitment, the size of the recruiting team will be further reduced. Meta anticipates restructuring and layoffs within the technical department by the end of April and within the business department by the end of May. If progress is unsatisfactory, completion may be delayed until the end of the year. The international team’s timetable will differ, with local management overseeing further details. Overall, the company’s workforce will be reduced by approximately 10,000 employees, and around 5,000 unfilled positions will be closed.
Zuckerberg acknowledged that downsizing signifies bidding farewell to talented and passionate colleagues, which is difficult yet unavoidable. He expressed gratitude for their efforts personally. Once the restructuring is complete, Meta plans to lift the hiring and internal transfer freeze across departments.
In the 2022 fiscal year, Meta reported revenue of $116.609 billion, a 1% year-on-year decline; operating profit of $28.944 billion, a 38% year-on-year decline; and net profit of $23.2 billion, a 41% year-on-year decline. While the company’s revenue remained relatively stable, profit margins experienced a significant downturn.
