Meta Layoffs to Affect Thousands Amidst Worker Anxiety
- Shams ul Zoha
- March 8, 2023
- 2:48 pm
WHAT YOU SHOULD KNOW
- The job cuts are separate from ongoing efforts to streamline the company.
- Employees are worried about their bonuses, which are set to be paid out this month.
- The company aims to become more agile and efficient, with a preference for fewer layers of management.
Meta Platforms Inc, led by Mark Zuckerberg, is reportedly planning to lay off thousands of employees as early as this week. The meta layoffs are being made based on financial goals and are separate from the company’s ongoing efforts to streamline its organization. Bloomberg reported this news citing sources familiar with the matter. The plan is expected to be presented to Zuckerberg before he goes on parental leave for his third child, which could happen soon.
CEO Mark Zuckerberg has dubbed 2023 as the “Year of Efficiency,” and Meta is said to be working towards becoming a more agile and streamlined organization. The company’s top executive has preferred fewer layers of management, hinting that middle managers may be among those affected by the latest round of Meta layoffs.
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