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Meta facing its second round of layoffs in the last three months

Date: March 24, 2023 Time: 22:05:14

Facebook’s parent company, Meta, is preparing a round of new layoffs that could involve thousands of workers in all its divisions worldwide. For its part, the company has argued that this would be part of a restructuring that “lightens” the organization chart approach that the firm has, according to some sources familiar with this plan have reported to The Washington Post.

This process is known internally as “flattening,” according to Bloomberg, and will involve asking many of your managers and middle managers to transition to individual contributor jobs or otherwise leave the company. Likewise, Meta is evaluating the additional possibility of canceling some projects. The changes will probably take place over several months, and not suddenly.

Mark Zuckerberg, CEO of the company, has already defined the multinational’s efforts to control its costs during the current year as “the year of efficiency”, after the slowdown in the economy weighed down Meta’s results in 2022.

The company already announced at the end of 2022 a cut of 11,000 jobs. At the beginning of this month, Meta reported a net profit of 23,200 million dollars (21,825 million euros) for the whole of last year, which represented a 41% drop compared to those recorded twelve months earlier.

After announcing changes on Instagram and Facebook

This proposal comes two days after the company announced a series of changes to Instagram and Facebook with which it is intended that users pay 11.2 euros to access a series of advantages, which consist of verifying accounts to obtain recognition of the ‘blue badge’ that has acquired so much importance over the last few months, since Twitter’s competition ended up betting on this remunerative strategy.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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