Meta cut 13 per cent of its workforce in November last year. (File)
Meta CEO Mark Zuckerberg hinted at the possibility of more layoffs at a recent internal meeting, months after the company slashed over 11,000 jobs. Reports quoted Mr Zuckerburg as saying that he is opposed to “managing managers” and that managers who build larger teams should not be compensated.
“I don’t think you want a management structure that’s just managers managing managers, managing managers, managing managers, managing the people who are doing the work,” the billionaire was quoted as telling The Verge’s newsletter, Command Line.
The possibility of layoffs seemed even stronger when viewed with Meta’s Chief Product Officer’s comments last month. Chris Cox had discussed the possible “fattening” of the organisational structure on the company’s communication platform, Workplace, Mashable India reported.
Mark Zuckerberg also reportedly discussed the development of ChatGPT-like AI tools that will eventually assist engineers and non-engineers with coding.
Last year, Facebook’s parent company paid BuzzFeed millions of dollars to “bring more creators” to Meta’s platforms, The Wall Street Journal reported. The deal is reportedly valued at around $10 million and involves BuzzFeed helping Meta generate creator content as well as train creators to grow their presence online.
Meta cut 13 per cent of its workforce in November last year, the first and biggest layoffs in the company’s history. The pandemic-led boom that boosted tech companies and their valuations has turned into a bust in the face of decades-high inflation and rapidly rising interest rates.
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