After cutting 11,000 jobs last fall, Meta is reportedly set to execute what could be another major round of layoffs as it tries to trim expenses. The news comes after CEO Mark Zuckerberg hinted in January another round could happen this year after previously saying in November that he didn’t foresee more cuts.
Earlier this month we got a look at why Apple hasn’t had to cut jobs while tech giants like Meta and Amazon have slashed tens of thousands.
One of the big factors was Meta and others almost doubling their workforces since 2019. Along with trends like the macroeconomic downturn, that resulted in Meta cutting roughly 13% of its staff last fall and it looks like the cuts aren’t over.
Reported by The Washington Post, Meta is slated to execute another wave of layoffs that are believed to hit management.
“Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between Meta CEO Mark Zuckerberg and the company’s interns, according to a person familiar with the matter…”
Additionally, some projects are expected to be cut with Meta executives “evaluating the cheapest way to accomplish the most necessary tasks” which will “disproportionately affect workers in non-engineering roles.”
The cuts could number in the thousands for this round of layoffs and “may not happen on a single day, but will likely roll out across the company in the coming months.”
Meta spokesman Dave Arnold declined to comment to The Washington Post on the matter when asked but just referenced this previous statement from January:
“We closed last year with some difficult layoffs and restructuring some teams,” Zuckerberg told investors earlier this month. “When we did this, I said clearly that this was the beginning of our focus on efficiency and not the end.”
That indeed gave a heads-up about potentially seeing more layoffs this year. However, it was a 180 in contrast to Zuckerberg’s message after the massive cuts last fall when he said did not “anticipate more layoffs.”
After the story went live, Meta’s Policy Communications Director Andy Stone took issue with The Washington Post’s angle:
Meanwhile, layoffs are continuing at other tech companies like Twitter, Zoom, LinkedIn, and many more.
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