The tech industry has been hard hit over the past few months, and many businesses have decided to lay off a lot of employees. Several companies, including Twitter, Meta, Google, Microsoft, Wipro, and Philips, collectively laid off thousands of employees, and accounts of these layoffs began to circulate on social media platforms. The job market is extremely unstable, particularly in the technology industry, and trouble for techies is far from over.
In the midst of all of this, Meta’s CEO, Mark Zuckerberg, has confirmed that the company will likely implement yet another round of layoffs. Mark Zuckerberg said in an internal meeting that he is looking forward to removing some layers of middle management to speed up the company’s decision-making process and announced his plans to make 2023 the year of efficiency.
According to reports, the number of employees at the company has been steadily growing for nearly two decades, making it very difficult to really crank up efficiency while growing that quickly. The CEO of Meta wants to make decisions more quickly by flattening the organization’s structure and removing some middle management layers.
The CEO of Meta stated in a press release that he is pleased with the company’s community expansion. He is pleased with the high level of engagement across all of our apps and with the community’s continued expansion. Facebook recently crossed the 2 billion daily active users mark.
Mark Zuckerberg added that the development of their AI discovery engine and Reels are major contributors to this achievement. Aside from this, their management theme for 2023 is “Year of Efficiency,” and they want to build a stronger, more agile company.