Meta, the parent company of Facebook, Instagram, WhatsApp and Oculus, is not ruling out further layoffs in the future despite already having announced plans to lay off up to 21,000 employees. Speaking at a virtual employee Q&A, CEO Mark Zuckerberg said that although he felt good about the company’s position, he couldn’t make promises of no further cuts.
So far, 4,000 employees have been impacted by the recently announced cuts, which first began in November. Those cases involved recruiting staff while the organization’s business division would find out whether they were affected in the coming months. It is reportedly difficult to predict if further layoffs will be necessary in the future given the volatility.
Part of the job reductions included a number of technical product managers being laid off despite some of them having received positive performance reviews. Other divisions that were affected included user-experience research, product design, software engineering, and AI research science. In addition, Meta’s information problem engineering team, responsible for fact-checking and detecting election misinformation, saw almost three quarters of its members being let go.
The company has also undertaken a ‘year of efficiency’, where it has been flattening out its organization, cutting layers of management and hiring at a much slower rate. The company aims to keep its overall of personnel at 1 to 2 percent growth every year, minimizing the cost to Meta’s shareholders.
Mark Zuckerberg is the CEO of Meta and is renowned for being the co-founder and CEO of Facebook. He first became fascinated with computers and programming at an early age of 12 which eventually led him to Harvard and success with the creation of Facebook. He has since overseen the tremendous growth of the company and other subsidiaries, receiving numerous accolades and awards.
Meta’s future cuts have the potential to have a huge impact. By providing insight and potential cuts, Meta can ensure a continued growth in stability and reduce any potential risk for its shareholders. Mark Zuckerberg’s experience and dedication in the tech industry will help to ensure that the company runs efficiently and is able to cope with sudden changes in the coming years.
