The IT sector has had some ups and downs in recent months as a result of numerous corporations’ decisions to terminate large numbers of staff. Thousands of workers were let go by Meta, Microsoft, Twitter, Google, Philips, and Wipro.
The troubles for technicians are far from the end, and the labour market is incredibly unpredictable, particularly in the technology industry. Despite this, Meta CEO Mark Zuckerberg has acknowledged the company will probably make more cuts.
In an internal meeting, Mark Zuckerberg declared 2023 to be the “year of efficiency,” saying he wanted to hasten the company’s decision-making by “removing some layers of middle management.”
During Meta’s earnings call with investors to discuss its fourth-quarter profits, Mark Zuckerberg reportedly confirmed the layoffs. “I just think we’ve reached somewhat of a phase change for the organisation,” he is quoted as saying in the story.
Additionally, the CEO said that Meta’s workforce has been expanding regularly for almost 20 years, making it “extremely difficult to really crank on efficiency while you’re growing that quickly.” In order to increase efficiency, he stated that he is “flattening the organisational structure and eliminating several levels of middle management.”
According to Mark Zuckerberg, who is quoted in the article, management structures with more managers than employees are not desirable. “I don’t think you want a management system that’s simply managers managing managers, managing managers, managing managers.”
In a press statement, the CEO of Meta stated, “I’m happy with the high levels of interaction across all of our apps as our community continues to expand. Facebook recently passed the 2 billion daily active user mark.”
He added, “The progress we’re making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’, and we’re focused on becoming a stronger and more nimble organization.”
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