Meta to lay off 10,000 workers

Meta, the owner of Facebook and Instagram, is to lay off 10,000 employees in a fresh round of cost cutting measures


META EMPLOYEES WORLDWIDE (last 10 years)
2023 Mar 14: Latest lay-offs (13% of staff)	65,482 10,000
2022				75,482	11,000 
2021				71,970
2020				58,604
2019				44,942
2018				35,587
2017				25,105
2016				17,048
2015				12,691
2014				9,199

Nov 9: Six weeks after hiring freeze, Meta lays off 11,000 staff (13% of workforce)
      

CEO Mark Zuckerberg


Global economic downturn hitting digital advertising which apps rely on for revenue


TECH SECTOR REDUNDANCIES (total monthly lay-offs and single biggest company job cut)

Redundancies expected imminently, before CEO Mark Zuckerberg takes parental leave for third child

Apr 2022	5,825 (Better.com: 1,350)
May 		23,057 (Getir: 4,480)
Jun 		29,359 (Tesla: 3,500)
Jul 		21,731 (Microsoft: 1,800)
Aug		21,425 (Snap: 1,280)
Sep     	10,841 (Twilio: 850)
Oct 		24,164 (Seagate: 3,000)
Nov 		51,124 (Meta: 11,000)
Dec		40,486 (Bytedance*: 13,000)
Jan 2023 	108,080 (Amazon: 18,000)
Feb		48,160 (Ericsson: 8,500)
Mar†   		18,442 (Meta: 10,000)

12 month total: 402,694


*Owner of TikTok. †To March 15, 2023 


Sources: Bloomberg, Macrotrends, TrueUp
Illustration source: Getty Images
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