Facebook-parent company Meta is set to execute another round of job cuts as part of founder Mark Zuckerberg’s goal of greater efficiency in 2023. Among other tech significants, Alibaba too announced job cuts in its cloud sector without specifying the exact number.
Affected employees are expected to be notified on Wednesday (May 24), Washington Post reported, while citing persons familiar with the matter.
Meta latest layoffs: How are they different?
As part of the “Year of Efficiency” move, Meta said that it would eliminate 21,000 roles.
The latest round of layoffs will result in job cuts for 10,000 employees, the Washington Post report added.
The current round of layoffs will affect Meta employees who work on trust and safety issues in Meta’s business divisions.
Meta Platforms Inc. will now fire people who put up an online fight against misinformation and fake news across Facebook, Instagram and WhatsApp.
Meta’s layoffs are part of a larger trend among tech giants in and beyond Silicon Valley that are executing job cuts citing an industry-wide downturn and the need for cost-cutting.
Meta joins Google, Amazon and Microsoft in trimming tens of thousands of jobs among a host of tech sector companies that kicked off a layoff spree last year.
Meta not alone: Alibaba to join layoff spree as well
On Tuesday, Alibaba announced its plans to cut roughly seven per cent workforce in its cloud department.
As of March 2023, Alibaba had more than 250,000 employees under its roster, although it is unclear how workers are divided between departments.
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In 2021, Alibaba Cloud had become the subject of regulatory oversight by the Chinese Communist Party after it reported a major software error to authorities.
It also played a role in China’s largest cybersecurity data leak in 2022, further inviting Beijing’s authoritarian gaze.
Reports in financial dailies have made many wonder if Alibaba’s latest layoff move is an attempt to concede to market forces or Chinese political nuances.
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