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 that economic instability could continue for “many years.”
Shares of Meta were up about 5.5%.
“Here’s the timeline you should expect: over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates,” Zuckerberg said in a message to employees, which was also posted to Meta’s blog.
R&I – TP
LivinInTheUSA
Article URL : https://www.nbcnews.com/tech/tech-news/meta-lay-10000-workers-initial-cuts-november-rcna74855