In Meta ‘s so-called ‘Year of Efficiency’ , the company expects to carry out even more mass layoffs.
Meta is considering another round of layoffs that could affect thousands of people affected by the company around the world.
These cuts will begin this week, according to Bloomberg , and will add to the massive layoff of 13% of workers laid off in November.
Meta ‘s CEO , Mark Zuckerberg , indicated that the company will focus on reducing company costs this 2023 called ‘Year of Efficiency’.
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.”
Under this plan, Meta will focus on “cutting projects that are not working or are no longer crucial,” also planning to “remove layers of middle management to make decisions faster.”
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.