Meta is laying off 10,000 more workers as part of "year of efficiency"

Meta Chief Executive Officer Mark Zuckerberg on Tuesday said the company is laying off an additional 10,000 workers to hedge against economic instability that could persist for "many years."

The move is part of a number of steps, including slowing hiring and canceling some projects, that Meta is taking to cut costs and improve financial performance during what Zuckerberg dubbed its "Year of Efficiency." 

The layoffs will be conducted "over the next couple of months," Zuckerberg said in a memo to employees.