Facebook's parent company Meta is laying off another 10,000 workers, or roughly 12% of its workforce, in order to cut costs and shore up efficiency, CEO Mark Zuckerberg announced Tuesday.
"Last year was a humbling wake-up call. The world economy changed, competitive pressures grew, and our growth slowed considerably," Zuckerberg said in a statement shared with employees and posted to Facebook on Tuesday morning. "At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years."
