More layoffs are possible at Meta in the coming months as the company plans its ‘year of efficiency’. CEO Mark Zuckerberg recently said in a question-and-answer session with employees that he doesn’t rule out layoffs in the future and that the company will also delay its hiring process.
Meta is planning a ‘year of efficiency’, which includes layoffs and cost-cutting measures. The company recently began a fresh round of layoffs, affecting 4,000 technical workers in roles such as user experience, software engineering and graphics programming. Despite laying off nearly a quarter of its workforce, CEO Mark Zuckerberg confirmed that more layoffs and slower hiring could expect in the future.
During a virtual question-and-answer session with employees following the layoffs, Zuckerberg announced that he would not rule out future layoffs and that employees can expect net growth of just 1-2 percent year-over-year from now on. Should do According to The Wall Street Journal, Zuckerberg also noted that the company’s hiring rate expected to be slower than before the layoffs that began late last year.
As part of its recent layoff plan, Meta cut its information problems engineering team, which is responsible for verifying and addressing allegations of election-related misinformation. About 75 percent of this team fired, and the remaining members merge into a larger team within Facebook’s integrity operations. Since November, Facebook’s parent company has laid off 21,000 employees, representing nearly a quarter of its workforce.
With back-to-back layoffs more likely to come, Meta employees are now questioning their job security at the company. The recent announcement has further unnerved employees, with many even questioning CEO Mark Zuckerberg why he should stay with the company if job cuts, slow hiring and sluggish growth characterize the coming year.
During a virtual Q&A session on Thursday, employees of META questioned CEO Mark Zuckerberg, expressing that their morale and confidence in the leadership of many hardworking, high-performing employees shatter.
Addressing the rest of his staff, Zuckerberg highlighted that Meta’s unique strength is its ability to deliver social experiences at scale and in a variety of products, providing an ideal workplace for those making a big difference. You want to make an impact and reach billions of people. He added: “Nothing in the world offers the scale and diversity of social experiences that we do. So I believe That Meta is a great place if you want to make a big impact and connect with billions of people.” “Where did he go?
“I just think that depending on where we are in the efficiencies we get from the new technologies, it’s probably the right model to look forward to in the future, and it’s going to be a different operating model, and I think we’re going to do it well.” Can,” Zuckerberg added.
In a recent town hall, META employees raised concerns that the company’s top executives receive high-performance appraisals and bonuses, despite being responsible for a round of massive cuts. This blockage was comparatively easy especially in the Reality Labs department. Employees also expressed the need to improve content quality and user experience. In response, CEO Zuckerberg defended his performance and expressed satisfaction.
In addition, some employees also questioned the extent of layoffs in user experience research operations. Meta’s product manager said they appreciate the efforts of the fired employees and will continue to work on user concerns.
As a reminder, Meta laid off 11,000 employees in November 2022 and announced an additional 10,000 job cuts in March 2023, bringing the total number of layoffs to 21,000. CEO Mark Zuckerberg took responsibility for the decision and apologized to affected employees in an email.
Meanwhile, the number of layoffs in April is currently unknown, with more than 4,000 employees reportedly set to lose their jobs. Zuckerberg cited various reasons for the layoffs, including lower revenue growth due to the recession and slower growth, as reasons for the layoffs at Meta. He also said in an email that the company has listened over the years and is now reducing its workforce due to current problems.
