Meta to cut 10,000 jobs in next round of layoffs

The company that runs the Facebook social-networking site says it is going to lay off 10,000 workers in a second round of job cuts.

Meta Platforms revealed the plan on Tuesday on its corporate website. CEO Mark Zuckerberg said one goal is to improve the company's financial performance in a difficult environment so it can execute its long-term vision.

Zuckerberg said the cuts will be carried out over the next couple of months.

Some recruiting-team members will know on Wednesday whether they are impacted.

He also said the firm will announce restructuring and layoffs in its tech groups in late April, and in business teams in late May.

The moves would follow more than 11,000 job cuts in November. That amounts to about 13 percent of Meta's entire workforce.

It is unusual for an IT giant to announce a second round of layoffs within such a short period of time.

Other US corporate heavyweights are also trying to rein in labor costs amid growing concerns of an economic slowdown. They include Amazon, Google, Walt Disney and Goldman Sachs.