WASHINGTON: Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company’s “year of efficiency” as the US tech sector continues to downsize.

In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a cull of 11,000 jobs announced by the company in November.

“This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success,” Zuckerberg said.

The first victims will be Meta’s recruitment department as the company officially puts an end to the hiring spree that came when big tech ramped up operations to meet high demand during the coronavirus pandemic.

In subsequent months, tech and business departments will also be affected and “in a small number of cases, it may take through the end of the year to complete these changes,” Zuckerberg said.

In January, Zuckerberg warned that further pain was coming when he told analysts the company’s “management theme for 2023 is the ‘Year of Efficiency’” and that he would focus on making the company “a stronger and more nimble organisation.”

Meta had suffered a rough 2022 amid a souring economic climate, which forced advertisers to cut back on marketing, and Apple’s data privacy changes, which have reduced leeway for ad personalisation.

Published in Dawn, March 15th, 2023

Opinion

Editorial

IMF’s projections
Updated 18 Apr, 2024

IMF’s projections

The problems are well-known and the country is aware of what is needed to stabilise the economy; the challenge is follow-through and implementation.
Hepatitis crisis
18 Apr, 2024

Hepatitis crisis

THE sheer scale of the crisis is staggering. A new WHO report flags Pakistan as the country with the highest number...
Never-ending suffering
18 Apr, 2024

Never-ending suffering

OVER the weekend, the world witnessed an intense spectacle when Iran launched its drone-and-missile barrage against...
Saudi FM’s visit
Updated 17 Apr, 2024

Saudi FM’s visit

The government of Shehbaz Sharif will have to manage a delicate balancing act with Pakistan’s traditional Saudi allies and its Iranian neighbours.
Dharna inquiry
17 Apr, 2024

Dharna inquiry

THE Supreme Court-sanctioned inquiry into the infamous Faizabad dharna of 2017 has turned out to be a damp squib. A...
Future energy
17 Apr, 2024

Future energy

PRIME MINISTER Shehbaz Sharif’s recent directive to the energy sector to curtail Pakistan’s staggering $27bn oil...