Meta will cut another 10.000 jobs.

The owner of Facebook and Instagram will cut another 10,000 jobs, months after laying off 11,000 staff, as the technology group prepares for years of economic disruption. Meta Platforms unveiled a fresh wave of redundancies as it battens down the hatches, announcing it would also shut about 5,000 additional vacant roles that it had not yet filled and cancel «lower priority» projects. «This will be tough, and there’s no way around that,» its chairman and chief executive Mark Zuckerberg told employees. Zuckerberg, 38, suggested that junior employees work better from the office, at least for part of the week.

«Engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week,» he told staff, citing «early analysis of performance data» that required further study. Shares in Meta closed up 7.3 per cent, or $13.12, at $194.02 in New York last night after it outlined the latest stage of its drive to cut costs. A Meta spokesman declined to comment further when asked about specific plans for the UK, where it had some 5,000 staff before the first wave of layoffs. Last year amounted to a «humbling wake-up call» for Meta after years of rapid sales growth, Zuckerberg said in a 2,200-word memo; as the economy turned, competition from rival platforms, including TikTok, intensified, and the company’s growth slowed.

Meta, based in Menlo Park, California, was founded by Zuckerberg in 2004. The company has 3.74 billion monthly active users across its platforms, including WhatsApp, and a market value of almost $500 billion. After years of rapid recruitment, it had more than 87,000 employees last autumn before announcing the first wave of layoffs in November.

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