Meta, the company that owns WhatsApp, Instagram and Facebook, is reportedly preparing to announce a new round of layoffs in the coming days. As reported, the company is delaying the finalization of the budget for each of its teams, which causes operational delays and affects the departure of employees from the company.
Goal to lay off more staff
Meta, the social media company, may be looking to cut more of its workforce in the near future. According reports of the Financial Times, the company has not finalized the budgets of its internal teams, so some of them will be affected by a new round of layoffs.
This situation has caused managers in each division to be unable to plan ahead for necessary activities, disrupting operational performance and even impacting projects in critical areas such as the metaverse and advertising, which now take longer to resolve.
The move, now internally called “the flattening,” is also taking a toll on employee morale, who criticized how the “year of efficiency” vision, a term used by Meta CEO Mark Zuckerberg, is affected. to describe the objectives of the company. by 2023, it is running. An employee stated:
Honestly, it’s still a mess. The year of efficiency begins with a bunch of people getting paid to do nothing.
One of the key employees of the company’s metaverse and virtual reality (VR) division, John Carmack, left Meta in December due to operational inefficiencies despite the company’s headcount. “I think our organization is operating at half the effectiveness that would make me happy,” he said at the time.
Layoffs and Restructuring
If it becomes official, this new round of layoffs would be the second Goal announced in less than a year. The company has already executed a cut that left 11,000 employees out of the company, representing 13% of Meta’s total workforce. But Meta’s movements go further.
The company is now targeting middle-management employees, who are being asked to step down from non-managerial roles or leave the company, according to the same reports.
Despite all these cost-cutting measures, the company has stated that the metaverse remains one of its main focuses for the long term and that it will continue to invest in this area. As part of its fourth quarter 2022 earnings call, Meta CFO Susan Li explained that they still expected more losses in metaverse operations for 2023.
Other technology companies, such as Microsoft, have also announced layoffs as part of their restructuring processes, to adapt to the new market situation after the coronavirus pandemic.
What do you think of the reports of a new round of layoffs in Meta? Tell us in the comment section below.
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