One employee impacted by the moves told CNBC that Wednesday's layoffs also hit product-facing teams and that Meta plans to cut business-facing roles, such as finance, legal and HR, beginning in May. Meta CEO Mark Zuckerberg then declared 2023 the "year of efficiency," and proceeded with a plan of an additional 10,000 job cuts in March, resulting in restructuring costs of between $3 billion and $5 billion. Global Business and Financial News, Stock Quotes, and Market Data and Analysis