Zuckerberg couldn’t keep his promise: Thousands are on borrowed time

Another wave of Meta layoffs is on the way. Following the 11,000 layoffs it executed last October, Meta is apparently planning another large round of layoffs in an effort to reduce costs. After announcing in November that he didn’t foresee any further cuts, Facebook CEO Mark Zuckerberg hinted in January that another round could happen this year, and now we have official confirmation.

“Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between Meta CEO Mark Zuckerberg and the company’s interns, according to a person familiar with the matter…”

-Reported by The Washington Post

Meta layoff land is ready to welcome its new residents

Meta, Facebook’s parent company, is preparing for another round of layoffs. It has tasked its human resources department, legal team, financial advisors, and executive leadership with developing a strategy to flatten the organization in preparation for a reorganization and downsizing that could affect thousands of employees.

Zuckerberg hinted at further layoffs in early February when he told investors he would reduce middle management and increase the speed with which Facebook made decisions.

Executives at Meta are “evaluating the cheapest way to accomplish the most necessary tasks,” which will “disproportionately affect workers in non-engineering roles.”

Big tech layoffs will continue in 2023. A large number of people may lose their jobs in this wave of layoffs, which “may not happen on a single day, but will likely roll out across the company in the coming months.”

After the story went viral, Andy Stone, Meta’s Policy Communications Director, criticized The Washington Post’s perspective. However, he did not deny the layoff news.

The @washingtonpost got this one wrong. With all due respect, @loriamontgomery, @cpassariello, @markseibel, @laurastevens, how do you run a story with a headline/storyline that is contradicted by the reporting in the very same story — as well as previous reporting? https://t.co/KnmspMFN5t

— Andy Stone (@andymstone) February 22, 2023

The layoffs will greatly affect personnel in fields outside of engineering.

Managers will consider things like employee reviews, job descriptions, and pay structures when deciding where to make cuts.

 

 

Thank you for being a Ghacks reader. The post Zuckerberg couldn’t keep his promise: Thousands are on borrowed time appeared first on gHacks Technology News.

gHacks Technology News