Meta to lay off 10,000 more workers after initial cuts in November

Meta will lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion, the company announced Tuesday, with CEO Mark Zuckerberg warning economic instability could continue for "many years." In a SEC filing announcing the cuts, Meta also said it anticipated lowered total expenses in 2023, ranging from $86 billion to $92 billion. The new round of layoffs follows a previous round of cuts, announced in November, that affected more than 11,000 workers, which equated to roughly 13% of Meta's overall staff. Zuckerberg told analysts in February that Meta plans "on cutting projects that aren't performing or may no longer be crucial" while simultaneously "removing layers of middle management to make decisions faster." In January, Google revealed plans to lay off more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce said it planned to cut 7,000 jobs.