Zuckerberg’s decision to cut thousands more jobs in Meta is driven by financial goals
According to what he reports Bloomberg, Meta, the company that owns Facebook, Instagram and Whatsappis planning a new series of layoffs with cuts for thousands of employeesin the week of 6 to 11 March 2023.
Mark Zuckerberg had already cut employees by 13% as of November 2022but has decided to eliminate other jobs in an effort to implement a more efficient organization.
In Novemberthe CEO had fired 11 thousand employees. Internal rumors say that Zuckerberg would have asked managers to compile a list with the names of people from the various teams that he deems non-essential, therefore fireable.
The financial goals of the Meta layoffs
The new round of cuts is driven by financial targets because Meta saw a slowdown in ad revenue after the arrival of more stringent privacy laws in many countries of the world, and has shifted attention to the virtual reality platform Metaverso.
Whoever is working on the layoff plan hopes it will be ready before the CEO Mark Zuckerberg go in parental leave for her third child, which may be imminent. The November cuts came as a surprise, but another round of layoffs was widely expected.
Zuckerberg defined the 2023 “the year of efficiency” of Meta and the company communicated this theme to employees during performance reviews, which were completed last week.
Anxiety and low morale among Meta employees
Workers at the Menlo Park, California company talk about aanxiety and low morale among colleagues. Some employees said they were concerned about the bonuses, which should be distributed in March, if they were to lose their jobs.
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