Meta Platforms Inc. META plans to lay off 10,000 more employees as it focuses on “efficiency” and cost cutting. The company announced its latest bout of layoffs in a Tuesday morning note to employees that was also shared to the company’s corporate blog. The company slashed more than 11,000 jobs back in November. “With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team,” Chief Executive Mark Zuckerberg said Tuesday. The company plans to let recruiting staffers know of their status tomorrow and announce the impact to tech and business teams in April and May, respectively. He noted that Meta would also close about 5,000 additional roles that the company has yet to hire for. “After restructuring, we plan to lift hiring and transfer freezes in each group,” he noted. The company added in a filing with the Securities and Exchange Commission that it now expects to incur $86 billion to $92 billion in total expenses this year, whereas its prior forecast was for $89 billion to $95 billion. Meta shares were up more than 3% in morning trading Tuesday.
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