Facebook-Meta has announced another round of employee lay-offs in early February, 2023, reported two employees associated with the organization. CEO Mark Zuckerberg had earlier called 2023 the “Year of Efficiency” with the annual estimated expenses to be around $89 billion-$95 billion.
According to some top executives from the organization, the CEO expressed to hasten the process of laying off employees from the middle management at an internal meeting.
As per the reports of the Financial Times, Meta has also delayed finalizing the budgets for various teams, this lack of clarity and reduced work efficiency has preventing managers from planning their workloads and consequently resulted in “zero work” getting done. “Honestly, it’s still a mess,” Financial Times quoted one of the Meta employees as saying. “The year of efficiency is kicking off with a bunch of people getting paid to do nothing.”
Recently Zuckerberg has said, “I don’t think you want a management structure that’s just managers managing managers, managing managers, managing managers, managing the people who are doing the work.” Quoting his reason behind this decision, he believes in “flattening the organization structure and removing some layers of middle management to make decisions faster.”
Reportedly, the company is losing nearly $20 billion+ in the past couple of years. Apparently as per Zuckerberg the company has over-hired due to demand during the Covid-19 pandemic therefore, last year in November, the company cut more than 11,000 jobs, 13% of its workforce due to strained economic conditions and will continue its second round soon. The next round of layoffs at Meta are expected to be in March as the company is currently going through performance reviews of staff.
However, Meta alone has not been using the layoff mechanism to fight economical strains, other tech companies using it are Amazon, Microsoft, Twitter, Google, and Intel, who have announced thousands of layoffs due to the economic downturn. Recently, Microsoft reduced the headcount in its gaming division.
