Meta is reportedly planning thousands of additional layoffs this week in what would be another major downsizing for one of the Bay Area’s largest employers.
Meta declined to comment.
The company is also trying to downsize its office space and has put up for sublease a large 435,000 square foot space at 181 Fremont St. in San Francisco, along with a space in Fremont.
It is far from the only technology company to downsize. DocuSign, the RealReal, Twilio and others have announced layoffs, affecting hundreds of employees in the past month. Elon Musk’s Twitter had an extra round of layoffs last week.
Meta’s workforce grew to 86,482 people at the end of 2022, a 20% increase over the previous year. In 2019, the company had 44,942 employees.
Meta CEO Mark Zuckerberg said 2023 was “the year of efficiency” last month during an earnings call.
“We are working on flattening our organizational structure and removing some layers of middle management to make decisions faster, and deploying AI tools to help our engineers be more productive,” he said.
The company reported fourth-quarter revenue of $32 billion, which beat expectations, and its inventory is up 48% this year.
Reach Roland Li: roland.li@sfchronicle.com; Twitter: @rolandlisf
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