The last couple of months have been hard on the tech industry with several companies choosing to lay off employees in large numbers. Twitter, Meta, Google, Microsoft, Wipro and Philips, among others, collectively laid off thousands of employees and stories of the same started surfacing on social media platforms. The job market, especially in the tech sector, is highly unstable and trouble for techies is far from over.
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Amidst all of this, Meta CEO Mark Zuckerberg has confirmed yet another round of layoffs that are likely to happen at the company. Announcing his plans to make 2023 the ‘year of efficiency’, Mark Zuckerberg, during an internal meeting, said that he is looking forward to speeding up the decision-making process of the company by ‘removing some layers of middle management’.
Mark Zuckerberg’s ‘year of efficiency’
As per a report in The Verge, Mark Zuckerberg confirmed the impending layoffs during Meta’s fourth-quarter earnings call with investors. The report quotes him saying, “I just think we’ve entered somewhat of a phase change for the company.” The CEO further said that the number of employees at the company has been growing steadily for nearly two decades which makes it “very hard to really crank on efficiency while you’re growing that quickly.” He then said that he is focused on increasing efficiency of how decisions are made by “flattening the organisation structure and removing some layers of middle management to make decisions faster.”
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The report also quotes Mark Zuckerberg talking about how nobody wants a management structure that has more managers than the people who are putting in the work. He said, “I don’t think you want a management structure that’s just managers managing managers, managing managers, managing managers, managing the people who are doing the work.”
Meanwhile, in a press release, the Meta CEO said that he is pleased as the company’s community is growing. He said, “Our community continues to grow and I’m pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives.”
He added, “The progress we’re making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization.”
Meta layoffs in November 2022
In November 2022, Meta announced its decision to lay off 11,000 employees, which roughly meant that it bid adieu to around 13 per cent of its workforce. The news was announced by Mark Zuckerberg in an official blogpost. “I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected,” he had written at the time.
