Meta layoffs: 11,000 people "disappeared" from the metaverse
It's still coming. After the news of the layoffs had been brewing for an entire weekend, Mark Zuckerberg finally officially announced the news of the layoffs at Meta on the morning of November 9th, US time: This is the first large-scale layoff in Meta/Facebook's founding history and will affect more than 11,000 employees, or about 13% of Meta's total workforce.
"I am personally responsible for the decision to lay off workers, and for the (mistakes) we have gotten to where we are today," Zuckerberg wrote in an all-employee email. Difficult situation. To the employees affected, I am deeply sorry." Zuckerberg said that the company has already initiated other measures to reduce costs and increase efficiency, including freezing recruitment until Q1 of the next fiscal year, and cutting some discretionary expenses in company operations and employee work. "Layoffs are the last resort."
After the news was officially announced, Meta's stock price soared again: it closed at $96.47 yesterday and opened at $101.72 on Wednesday, immediately rising sharply, with a maximum increase of 8% during the day, before falling back in the afternoon and finally closing at $101.47, an increase of 5.2%. Investors may take this large layoff as good news for Meta to improve its profit margin, but behind these numbers are the bitterness and panic of countless affected ordinary people.
(For those affected, the Silicon Stars have compiled information on mutual assistance and companies that are still recruiting at the end of the article, you can pay attention to check). Layoffs Insider In general, as Zuckerberg wrote in his all-staff letter, this round of Meta laid off 11,000 employees, of which recruiting and business positions have become the hardest hit areas.
But that's not to say no engineers were laid off this round. In fact, some revelations from Meta's internal and social media show that some engineering departments have a high rate of layoffs. The first is a significant reduction in the number of Recruiting positions, with the original text of the letter saying "will be disproportionately affected".
Search related keywords on LinkedIn, and you will find that a large number of layoff information publishers are employees in recruitment and talent acquisition positions. There is a saying in the market that Meta originally had 6000+ recruiters (recruiters), and half of them were laid off. Kelsea Pullin, a technical recruiter, said that after working at Microsoft for nine years, he made the difficult decision last year to move to Meta's Reality Lab, where his main job is to recruit researchers and academics. But I didn't expect to be fired not long after joining. Some people in the industry have questioned why Meta has so many recruiters, no wonder they have to lay off - this Pullin's post also provides the answer: recruiters also cooperate with many other non-recruiting matters in the company, such as DEI (Diversity, Equality) , inclusive), etc.