It has been speculated that Meta is doing this “to become a more efficient organization.”

In its first-ever mass layoff, Meta fired 11,000 employees, in November of last year.

A number of crypto winters have come and gone, but none have been as severe as the one in 2022. There were widespread asset price declines, corporate closures, hacking, and layoffs. Even though we’ve started a whole New Year, the firing frenzy has continued unabated.

Bloomberg reported recently that Meta is planning to do further layoffs. According to those acquainted with the subject, thousands of workers might be impacted as soon as this week. It has been speculated that Meta is doing this “to become a more efficient organization.”

Year of Efficiency

According to reports, Zuckerberg has designated the year 2023 as Meta’s “year of efficiency.” At annual performance assessments, the firm has been emphasizing this same message to its staff. It was stated last week that all of the assessments had been finished.

Anonymous Bloomberg sources claim that according to those speaking on condition of anonymity about internal concerns, the upcoming wave of cutbacks is being driven by financial objectives and is different from the “flattening.”

Furthermore, this round of layoffs may be completed in the following week. According to the reports, the business has ordered Directors and Vice Presidents to develop lists of workers who may be sacked. Meta, on the other hand, has not verified the same, and a representative refused to comment or provide any specifics to Bloomberg.

Moreover, in its first-ever mass layoff, Meta fired 11,000 employees, or around 13% of its workforce, in November of last year. Mark Zuckerberg, the CEO, took complete ownership of the call. Meta has been banking heavily on Metaverse and has spent billions on developing products.

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Filed under: Bitcoin - @ March 7, 2023 10:18 am