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Meta to lay off 10,000 workers (1) infographic
Graphic charts Meta staffing levels and redundancies in the tech sector.
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BUSINESS

Meta announces 10,000 more staff redundancies

By Ninian Carter

March 15, 2023 - Meta, the owner of Facebook and Instagram, is to lay off 10,000 employees in a fresh round of cost cutting measures.

Meta, the world’s largest social networking company is to eliminate 10,000 more jobs, on top of the 11,000 it let go in November 2022 – its first ever major lay-off.

Lately, the company, which owns Facebook and Instagram, has been offering redundancy packages to managers and cutting entire teams it deems nonessential.

Meta has seen a dramatic fall in advertising revenue while pouring billions of dollars into its metaverse project, which it is struggling to realise.

The latest phase of lay-offs are part of Meta’s 2023 “year of efficiency” drive.

Sources
PUBLISHED: 15/03/2023; STORY: Graphic News; PICTURES: Getty Images
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