Meta Platforms Inc. has announced plans to fire 10,000 more employees and halt 5,000 job postings, four months after downsizing its workforce by 13%. The layoffs will happen in stages.
In the first stage, which will start later this week, Meta intends to eliminate positions at its hiring division. The business and technology divisions of the company will both experience staff reductions in late April and late May, respectively.
In a regulatory filing, Meta stated that it anticipated taking a USD 3 billion to USD 5 billion charge as a result of the office consolidation and layoff initiatives. Meta anticipates its 2023 spending to be between USD 86 billion and USD 92 billion, including the charge.
Read More: Meta to let go 10,000 employees in new round of job cuts
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