Meta, the company that owns WhatsApp, Instagram and Facebook, is said to be making preparations to announce a new round of layoffs in the coming days. Reports suggest that the corporation has yet to finalize the budgets for its internal teams, leading to operational delays and impacting employees.
Mission To Employ Additional Staff
Meta, the social media giant, is also rumored to be trimming its staff in the near future. According to the Financial Times, the firm has yet to finalize the budgets for its divisions, meaning that some of its employees may be affected by this new round of layoffs.
This situation has caused managers in all departments to be unable to plan ahead for essential functions. It has also disrupted operational efficiency and hindered initiatives in key areas such as the metaverse or marketing. These issues are now more difficult to resolve.
The process is now internally referred to as “the flattening,” causing employees to feel demoralized by the rising cost of living. “Year of efficiency” is a term that is being used to describe the vision. Meta CEO Mark Zuckerberg is one of those affected. The company goals are outlined below, with expectations to be met by 2023. According to one employee:
To be honest, it’s a lot. The year of efficiency begins with a group of people being paid to do nothing.
One of the most important people in the company’s virtual reality (VR) division, John Carmack, left Meta in December. Regardless of the firm’s headcount, operational inefficiencies can be attributed to this. “I think our organization is operating at half the effectiveness that would make me happy,” he said at the time.
Layoffs and Restructuring
If this is true, the goal would have been achieved within less than a year. The firm conducted a cutback that left 11,000 people out of the organization, which is 13% of their total. Meta’s entire workforce was affected. But Meta’s actions go beyond the surface.
According to the same reports, the company is now focusing its efforts on middle-management personnel. They are being asked to step down or leave the firm.
Despite all the cost-cutting measures taken, the metaverse will still remain a major focus for the long-term and the company will continue to position itself in this space. As part of its fourth quarter 2022 earnings call, Meta CFO Susan Li also stated that they expected further losses in 2023 metaverse operations.
Other corporations, similar to Microsoft, have also implemented layoffs in order to adjust to the market changes following the coronavirus pandemic.
Are you interested in the reports of a new round of layoffs at Meta? Let us know in the comments below.
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