Meta to cut 10,000 jobs in second round of layoffs

Published by
Reuters UK

By Katie Paul and Nivedita Balu (Reuters) -Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares jumped 6% on the news. The widely-anticipated job cuts are part of a restructuring that will see the company scrap hiring plans for 5,000 openings, kill off lower-priority projects and “flatten” layers of middle management. They followed the company’s first mass layoff in the fall, which eliminated more than 11,000 jobs, or 13%…

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