Facebook Parent Meta Slashes Another 10,000 Jobs
March 14, 2023 12:34PM EDT
(AP) – Facebook’s parent Meta will slash another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
The company said Tuesday it will reduce the size of its recruiting team and then make further cuts in its tech groups in late April, and then its business groups in late May.
The Menlo Park, California, company has been investing billions of dollars to realign its focus on the metaverse.
In February it posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.