Mark Zuckerberg will begin a second round of cuts to Meta’s workforce on Wednesday, according to people familiar with the matter, as he continues his push to cut costs in what he has deemed a “year of efficiency”.
The $469bn social media company is preparing to slash thousands of jobs, several people said, as part of the chief executive’s push to wrestle its finances under control as the economic slowdown has eaten into its earnings. This comes on top of the reductions announced late last year, which affected 11,000 jobs of a workforce that was 87,000-strong at the time.
A growing number of senior leaders have also quit the company in recent weeks, adding to uncertainty internally. Nada Stirratt, vice-president of the sales organisation for the Americas at Meta, resigned on Monday, according to three people familiar with the matter, and chief business officer Marne Levine left in February.