On Wednesday, Meta Platforms Inc. will start announcing layoffs across the board in a bid to restructure teams in line with Zuckerberg’s objective of attaining maximum productivity.
Bloomberg News reported that the parent company of Facebook warned managers to get ready to announce job layoffs on Wednesday. This will impact firms like Quest hardware, Facebook, WhatsApp, Instagram, and Reality Labs (the centre for the company’s virtual reality efforts). According to Zuckerberg’s announcement in March, the action is part of a cost-cutting drive that will eventually eliminate 10,000 jobs at the corporation. In May, there will be yet another round of layoffs.
In November, Meta handed pink slips to 11,000 employees or around 13% of its staff. Additionally, it prolonged a hiring ban through the first quarter, broken up by cost- and job-cutting measures other Silicon Valley companies took. Zuckerberg remarked that the corporation intends to cut expenses and equalise the proportion of technologists and engineers to business and support workers.
According to the memo sent to managers, teams will be reorganised and a number of surviving individuals will be reassigned to work for new supervisors. Additionally, Meta will request that all North American workers who are able to work remotely do so on Wednesday so they can comprehend the news.
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A company representative dismissed the comment, citing Zuckerberg’s “year of efficiency” article from March, which stated, “We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May.”
