Meta Announces Major Layoffs and Extends Hiring Freeze
Meta Announces Major Layoffs and Extends Hiring Freeze
Meta, the parent company of Facebook, has announced its first-ever mass layoff, cutting approximately 13% of its workforce. This significant restructuring move marks a historic step for the company as it navigates challenging economic conditions and shifting operational priorities.
In a letter to employees, Meta CEO Mark Zuckerberg confirmed the layoffs and also announced that the hiring freeze, which began earlier this year, will be extended into the first fiscal quarter of 2024. This decision underscores the company’s efforts to streamline operations and align resources with strategic goals.
The layoffs and hiring freeze are part of a broader strategy to adapt to evolving market demands and improve efficiency. Meta is focusing on prioritizing key initiatives and ensuring long-term sustainability amid economic uncertainty.
This announcement reflects the company’s proactive approach to addressing current challenges while positioning itself for future growth and innovation.
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