Work at Meta is coming to a halt as the company prepares for new layoffs in the coming weeks, he said. financial times(opens in new tab) Saturday. As part of Mark Zuckerberg’s “Year of Efficiency,” the company has delayed finalizing budgets for multiple teams across his Meta, which owns Facebook, Whatsapp, and Instagram.
The news comes after Meta laid off 11,000 employees (about 13% of its workforce) in November. This is the most dramatic cut in the company’s 20-year history.According to the current employee who responded to the interview financial timesMeta’s staff were “dismotivated and demoralized by the cut and uncertainty”. financial times On last week’s earnings call, Zuckerberg reportedly said the company would be “more aggressive” in scrapping projects deemed low-priority or underperforming. Mehta is also reportedly working to “flatten” its organizational structure by eliminating middle management.
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Meta isn’t the only tech giant affected by job cuts, as Amazon, Google, and Microsoft have cut jobs in recent months.of financial times Shares are reportedly up 18% after the November cutline, according to Meta’s fourth-quarter results. Amazon laid off more than 18,000 of his employees, and Google (Alphabet) laid off 12,000 of its employees in January. (You can read Mashable’s ongoing coverage of the latest wave of tech layoffs here.)
According to sources who spoke with financial timesmanagers are being asked to leave the company or move to roles where no one manages or individual contributors. financial times Some staff fear a possible demotion or merger.
Meta did not immediately respond to Mashable’s request for comment.
