The process is known internally as a "flattening," the people said. Higher-level managers are sharing the directive with their subordinates in the coming weeks, separate from the company’s regular performance reviews that are currently underway, said the people, who asked not to be named discussing a matter that wasn’t public. Individual contributors aren’t in charge of others, and instead focus on tasks like coding, designing and research.
Meta, which owns Facebook and Instagram, fired 13% of its workforce in November during its first major layoff. In the months since, staff have faced intense anxiety about the potential for future cuts, the people said. Meta Chief Executive Officer Mark Zuckerberg explained during the company’s earnings report this month that he still felt the organization was too slow-moving and bloated. He called 2023 the “Year of Efficiency” and vowed to cut middle-managers and underperforming projects.
The current round of job cuts will be more gradual, enacted on an individual basis, the people said. Some Meta employees said they felt the change was needed given the organization includes some teams that compete to achieve similar goals and managers that oversee only one or two employees, the people said. Meta declined to comment.
Zuckerberg’s plan for a leaner organization helped the share price recover from 2022, which was its worst year ever. It’s up more than 56% so far this year.
(Source: Bloomberg), all rights reserved by original source.