Meta Preps for a Fresh Round of Layoffs: Report
Facebook-parent Meta Platforms Inc is planning a fresh round of job cuts to reduce its headcount.
Last year, the social media company let go 13% of its workforce – more than 11,000 employees – as it grappled with soaring costs and a weak advertising market.
Citing a person known in the matter a report quoted Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between top boss Mark Zuckerberg and the company’s interns.
However, their has been no official comment yet from the platform.
Zuckerberg told investors earlier this month that last year’s layoffs were “the beginning of our focus on efficiency and not the end.” He said he would work on “flattening our org structure and removing some layers of middle management.”
Last year’s layoffs were the first in Meta’s 18-year history. Other tech companies have cut thousands of jobs, including Google parent Alphabet Inc, Microsoft Corp and Snap Inc.