Meta to cut another 10,000 jobs and freeze 5,000 open roles

Meta, formerly known as Facebook, will cut an additional 10,000 jobs through multiple rounds of layoffs over the coming months, CEO Mark Zuckerberg announced on Tuesday.

This comes just four months after the company laid off 11,000 employees in November last year. The first wave of layoffs will affect Meta's recruiting organization, followed by tech roles in April and business roles in May.

Zuckerberg aims to make these organizational changes as soon as possible so the company can move past this uncertain period and concentrate on crucial work ahead. In an earnings call in February, Zuckerberg said that he wants to make this year the "year of efficiency" while the company continues to spend billions on building out its vision of the metaverse.

Despite the decline in revenue and significant job cuts, Meta plans to launch a new Quest 3 headset later this year and establish teams dedicated to building tools powered by artificial intelligence and AI "personas." The company plans to release AR and VR hardware devices over the next few years, including its first pair of AR glasses in 2027.