Facebook-parent Meta planning more layoffs, to impact thousands: Report

Submitted by Naren_the_747_pilot t3_1197cmp in wallstreetbets

Facebook-parent Meta Platforms is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday.

Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between top boss Mark Zuckerberg and the company's interns, the Washington Post reported, citing a person familiar with the matter.

In November last year, Meta said it had laid off 11,000 employees, a little over a tenth of its global workforce, days after Twitter let go of nearly half its workforce.

The company is also considering more traditional cuts, including slashing some projects and jobs. These efforts, targeted at divisions across the company and worldwide, may not happen on a single day, but will likely roll out in the coming months.

Zuckerberg proclaimed 2023 the “year of efficiency,” promising investors he would trim middle management and speed up the company’s decision-making, hinting at the possibility of more cuts.

Source:-

https://economictimes.indiatimes.com/tech/technology/facebook-parent-meta-planning-more-layoffs-report/articleshow/98159139.cms

https://www.washingtonpost.com/technology/2023/02/22/meta-layoffs/

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leli_manning t1_j9kus4b wrote

Will that 23 year old Meta Product Manager tiktok thot finally get laid off? 🤔

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Naren_the_747_pilot OP t1_j9kw9r0 wrote

Well if she doesn't I guess she is doing something else with the managers to stay in the company img

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SuperBearPut t1_j9lvk7v wrote

Or she's been doing it the entire time, which is how she got her foot in the door initially.

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CyclicNature t1_j9l7tpv wrote

Mfers in here acting like most office jobs aren’t just sitting around pretending to be busy lol

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SirNooblet t1_j9mqc0o wrote

That's not even good enough now you need to do it at home too

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Kitten_Team_Six t1_j9kxu35 wrote

Wheres that recruitment video where the girl works like 20 minutes a day and has coffee bagels and hot towels ready for her when she arrives

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pigsgetfathogsdie t1_j9kv4wq wrote

Zuck belongs here…

  • Lost $Bs on the mEtAVeRsE
  • Will make a few $M from aCcoUnT vEriFiCaTioN
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MainStreetMoneyMan t1_j9kuavw wrote

Talk about mismanagement - Zuckerberg focused so much on his meta-verse at the expense of the company

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0Bento t1_j9o18vs wrote

Zuck: I need to be at the forefront of the Next Big Thing!

<invents "the Metaverse" and tries to make it the Next Big Thing>

Meanwhile AI is coming to change everything

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Dull_Falcon_2260 t1_j9m3o4r wrote

Meta is becoming MySpace it had a hood ride but it’s time for something new

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liverpoolFCnut t1_j9l1vv8 wrote

Back in December when i first read about META's 11k planned layoff, my first reaction was "Wow! That's more than 50% of their company!". Its only later that i found out that META now has close to 100k employees, or 80,000 more than they did mere 6 years ago!

The tech companies and their profits have grown exponentially over the last 12 years . As the revenue went up, so did the headcount. My fear is if mass layoffs in thousands are being done when the stock market is still high and companies are still beating expectations, then imagine how things will look like especially in tech when the downturn finally arrives and revenue/profit begin taking a hit.

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Game_of_Tendies t1_j9ljtq7 wrote

They added something like 40,000 between 2020 per-pandemic to Nov ‘22 when they had their first layoff. All the tech companies are going to be laying off multiple times this year. I don’t see how Meta don’t fire almost everyone they hired in the last two years…the Metaverse IS NOT a recession product and the biggest black hole in that company.

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0Bento t1_j9o05ai wrote

Zuck would rather sack his staff that abandon his vanity project

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token-eater t1_j9kyyey wrote

What happens when there are no more employees to lay off?

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VisualMod t1_j9ktsf6 wrote

>This is terrible news for the workers at Meta. I hope that they are able to find new jobs quickly.

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VisualMod t1_j9ktrsx wrote

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>TL;DR: Facebook is planning another round of layoffs that could affect thousands of employees. The move comes as the company looks to streamline its operations and make itself more efficient.
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