As CEO of Meta, Mark Zuckerberg declared 2023 to be the company’s “year of efficiency,” Meta planning had surfaced. Additionally, he stated that “removing some layers of middle management” would expedite the company’s decision-making process. A report claims that teams at Meta have not yet been assigned their annual budgets, and a fresh round of layoffs is anticipated at the company, adding fuel to the layoff rumours.
Due to the expectation of additional layoffs at the company, Meta has delayed finalizing the budgets of several teams. According to two Meta employees who are familiar with the situation, there has been a lack of clarity regarding budgets and future head count over the past few weeks.
During Meta’s fourth-quarter earnings call with investors, CEO Mark Zuckerberg confirmed the impending layoffs. Mark Zuckerberg stated that he simply believes that the company has entered a transitional phase.
Mark Zuckerberg went on to say that the company has been steadily growing its workforce for nearly two decades, making it extremely difficult to boost productivity at such a rapid rate. Mark Zuckerberg also said that he is concentrating on speeding up decision-making by flattening the organizational structure and eliminating some middle management levels.
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