The Morning After: Meta lays off an additional 10,000 workers

Meta has announced another expansive round of layoffs to cut costs. CEO Mark Zuckerberg says the company is letting go of another 10,000 workers and closing "around 5,000 additional open roles that we haven’t yet hired." This follows layoffs of around 11,000 employees last year. The company is reducing the size of its recruiting team and will inform affected employees later today. It’ll then announce layoff and restructuring efforts of its tech departments in late April and business teams in late May. Zuckerberg, who will soon go on paternity leave for his third child, recently described 2023 as a "year of efficiency.” He added in his note: "I think we should prepare ourselves for the possibility that this new economic reality will continue for many years."