https://about.fb.com/news/2023/03/mark-zuckerberg-meta-year-of-efficiency/

TLDR:

• Lay off 10,000 employees and close 5,000 open roles.

• The changes will happen over the next few months, with the majority of them occurring in late April.

• A plan to flatten the organization by increasing the number of direct reports, while still keeping it below 10.

• Lower priority projects across the organization will be discontinued.

• Emphasis on RTO.

This time around, the changes will primarily affect managers at the M0-2 level, and so on.

From Zuck:

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. With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team. We will let recruiting team members know tomorrow whether they’re impacted. We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. In a small number of cases, it may take through the end of the year to complete these changes. Our timelines for international teams will also look different, and local leaders will follow up with more details. Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired.