Meta (Facebook) CEO Mark Zuckerberg just announced in a blog post that his company will be laying off 10,000 employees in order to slim down and trim expenses. This follows a prior round of layoffs in November, in which over 11,000 workers – roughly 13% of Meta's entire staff – was shot.

On top of that, Meta plans to nix 5,000 open roles that it hasn't filled yet.

"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.

Investors cheered the news, with Meta stock up over 5% at publishing time.

Zuck has dubbed 2023 "Meta's year of efficiency." I guess he wasn't kidding lol.

👉 More reading: The Tsunami of Big Tech Layoffs Continues