Zuckerberg towards cutting another thousand seats in Meta
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Meta, owner of Facebook And Instagram, is planning a new round of layoffs and will cut thousands of employees as early as this week, Bloomberg reported. The world’s largest social networking company is therefore shedding more jobs on top of November’s 13% cut in an effort to implement a more efficient organization.
The previous cut of 11,000 employees
In the previous round of cuts, Half it cut 11,000 employees in what was its first major layoff. The company has also been working to streamline its organization, giving buyout packages to managers and cutting entire teams it deems non-essential, a move that is still being finalized and could affect thousands of employees.
The upcoming round of cuts is driven by financial goals and is separate from “flattening,” said some people who chose not to be named. Meta, which saw a slowdown in ad revenue and shifted focus to the virtual reality platform Metaverseasked managers to draw up lists of employees who can be fired.
Meta’s comment
On Monday, March 6, a Meta spokesman declined to comment on the plans. According to rumors, this phase of layoffs could be finalized in the next week. Those working on the plan hope it will be ready before CEO Mark Zuckerberg goes on parental leave for her third child, which may be imminent. November’s cuts came as a surprise, but another round of layoffs was widely expected.
The year of efficiency
Zuckerberg called 2023 Meta’s “year of efficiency,” and the company communicated that theme to employees during performance reviews, which were completed last week.
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