Meta Platforms Inc., the parent company of Facebook, is set to undergo a company-wide restructuring that will result in job cuts in Facebook, WhatsApp, Instagram, and Reality Labs. The move is part of a cost-cutting push that will eventually lead to 10,000 positions being eliminated at the company, which was announced by founder Mark Zuckerberg in March. The restructuring is aimed at making the company more efficient and lean, and rebalancing the ratio of technologists and engineers to business and administrative staff.
The memo circulated to managers instructed them to prepare to announce job cuts on Wednesday and indicated that teams will be reorganized, with remaining employees being reassigned to work under new managers. This move follows Meta's previous job cut of about 13% of its workforce, or about 11,000 jobs, in November. It also extended a hiring freeze through the first quarter, which has been a common trend among other Silicon Valley businesses.
To give employees time to process the news, Meta will ask all North America employees who can work from home to do so on Wednesday. A company spokesperson declined to comment on the restructuring and job cuts, but referenced Zuckerberg's "year of efficiency" post in March, which stated that "we expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May."
Overall, the restructuring and job cuts at Meta aim to create a more efficient and effective company structure that can better compete in the rapidly evolving tech industry.