Meta , the parent company of Facebook and Instagram, is looking to become more ‘efficient’ and will also make bosses work harder.
Meta this week will go through a second massive staff cut according to international media. The number of laid-off positions could go up to 6,000.
According to Insider , Mark Zuckerberg’s company is considering announcing between 3 and 6 thousand layoffs this week, which means a payroll reduction of up to 10%.
Finding out through the media that your job is about to lay off employees en masse is a matter of uncertainty for the thousands of workers in the company.
According to the report, the internal culture has become more “toxic” and employees are “distracted.” In addition, a strong distrust in the governing body has begun to emerge.
And to continue covering the work, bosses will also have to carry out tasks and responsibilities of their subordinates. Even various health and wellness benefits will be cut and hot desking will be encouraged.
The company is using much of the money it makes to fuel the metaverse concept, which in 2022 consumed a loss of $13.27 billion.
Mark Zuckerberg has said he will “take responsibility” for the company’s previously announced cost-cutting plans, saying he views layoffs “as a last resort.”
“We are restructuring teams to increase our efficiency,” Zuckerberg said when Meta announced the layoffs. “But these measures alone will not align our spending with our revenue growth, which is why I also made the difficult decision to lay people off.”
Meta fell in total sales during the fourth quarter of 2022 by 4% and its expenses increased to 25.8 billion dollars in that period. Advertising on its social networks is on the decline, the iOS privacy update still hits the company, and TikTok remains rising competition.