Meta Platforms Inc (NASDAQ:FB) has begun a final round of mass layoffs, announced by global affairs president Nick Clegg last week, according to reports.
Cuts are expected to affect up to 5,000 staff in Meta’s business department and began on Wednesday, The Guardian reported, following boss Mark Zuckerberg’s pledge of “year of efficiency".
Further cuts will come under a reshuffle announced in March, a month after which 4,000 staff in the company’s technology wing were laid off.
Facebook and Instagram owner Meta has already moved to cut 26,000 roles since November, with the first round in November hitting 11,000 jobs – 13% of the tech giant’s workforce at the time.
Amazon.com Inc and Google owner Alphabet Inc have also moved to reduce costs by laying off staff in recent months, after a pandemic-fuelled boost in online use led tech companies to hire.
The laid-off Meta workers will now join the near-200,000 people globally who have lost jobs at technology companies so far in 2023, according to tracking website Layoffs.fyi.