Mark Zuckerberg has recently announced a severe austerity plan at Meta Platforms, which will involve cutting thousands more jobs in 2023. This plan comes after the company had already cut 21,000 jobs from November 2021 through mid-March 2022. Zuckerberg referred to 2023 as the "Year of Efficiency," and stated that part of their work would involve removing jobs to build a leaner, more technical company and improve business performance. The pivot in strategy is due to the world economy changing, competitive pressures growing, and the company's growth slowing considerably. The job cuts, totaling 4,000, are expected to affect Facebook, WhatsApp, and Instagram, as well as Reality Labs, which houses the company's metaverse projects. The remaining employees will be reassigned to work under new managers, and the company plans to reorganize teams. Investors are anticipating the first-quarter results on April 26 to see if the drastic cost reductions have started to bear fruit for the company. After restructuring, Meta plans to lift hiring and transfer freezes in each group, and they also aim to have a steady stream of developer productivity enhancements and process improvements throughout the year. It seems that Meta is not done cutting jobs yet, and this could be a difficult time for the company as they say goodbye to friends and colleagues who have contributed so much to Meta.