Mark Zuckerberg is firing more employees in what is being termed another major layoff spree.
The Meta CEO is opting to reduce the headcount further down by 10,000 individuals this year as he opts to shut down 5,000 more active positions in his firm.
But as you can imagine, Zuckerberg is being criticized for the endeavor as his justification for the decision was one that not a lot of people are seeing eye to eye with. He says that it’s necessary to enhance the firm’s overall financial position while it deals with a very tough environment.
He further went on to mention how the goal of Meta is to fulfill its long-term vision and this appeared to be the right step forward. For that, there needs to be more restructuring in the firm, he concluded.
Meta is looking to give the firm a more flattened outlook that gets rid of the multiple management layers that exist today. And that ultimately means so many jobs are going to be eradicated, similar to how it took place in November of 2022.
Meta is targeting its recruitment team right now and those fired from their positions will be informed by tomorrow about their fate. Then, it will be the turn of tech groups who would be informed about the losses starting in April. And right after that, business groups would be informed about the ordeal in May.
Only after the entire process of restructuring is done and dusted would the firm be able to get rid of its respective pause on hiring and transfers.
Meanwhile, Meta says through its blog post that Meta is going to appear more leaner and focused as it targets the domains of engineering and tech. It also hopes to make things like tools a priority while getting rid of working remotely and focusing more on in-office work.
But if you think the decision by Meta is being taken due to the current situation of the economy, well, you’re sadly mistaken.
The abrupt decision by CEO Mark Zuckerberg was blamed on the recession that the world is facing but critics have blasted the claims and called it an abrupt lie. Moreover, investors are slamming Zuckerberg for his humble wake-up call that has been taking place for so long.
In the month of October of last year, Meta started to cut jobs by the masses as it wished to reduce its workforce by 20% and reduce the firm’s overall spending too. This entails so many multi-billion dollar investments linked to its much talked about Metaverse.
See, the problem is that Zuckerberg has overestimated the potential of the Metaverse and made all decisions in a manner that he felt would best benefit the endeavor. This included making big bets on expensive gadgets like VR goggles and Reality Labs.
The only problem is that there has been so much talk but very little action and that is what is concerning a lot of people right now. These decisions aren’t proving to be fruitful as they’re not churning any revenue, despite billions being invested in the likes of its creation and research.
So as you can imagine, Meta continues to drift into a land of excess where there are just too many individuals and too few ideas.
Today, Meta is not talking a lot about the Metaverse at all. And you can’t help but wonder why the super-ambitious and overzealous Zuckerberg’s aspirations have come to a standstill.
As far as the tech giant’s single largest investment, it remains to be the world of AI.
Read next: This Study Reveals Huge Gap Between PR Professionals and General Population
The Meta CEO is opting to reduce the headcount further down by 10,000 individuals this year as he opts to shut down 5,000 more active positions in his firm.
But as you can imagine, Zuckerberg is being criticized for the endeavor as his justification for the decision was one that not a lot of people are seeing eye to eye with. He says that it’s necessary to enhance the firm’s overall financial position while it deals with a very tough environment.
He further went on to mention how the goal of Meta is to fulfill its long-term vision and this appeared to be the right step forward. For that, there needs to be more restructuring in the firm, he concluded.
Meta is looking to give the firm a more flattened outlook that gets rid of the multiple management layers that exist today. And that ultimately means so many jobs are going to be eradicated, similar to how it took place in November of 2022.
Meta is targeting its recruitment team right now and those fired from their positions will be informed by tomorrow about their fate. Then, it will be the turn of tech groups who would be informed about the losses starting in April. And right after that, business groups would be informed about the ordeal in May.
Only after the entire process of restructuring is done and dusted would the firm be able to get rid of its respective pause on hiring and transfers.
Meanwhile, Meta says through its blog post that Meta is going to appear more leaner and focused as it targets the domains of engineering and tech. It also hopes to make things like tools a priority while getting rid of working remotely and focusing more on in-office work.
But if you think the decision by Meta is being taken due to the current situation of the economy, well, you’re sadly mistaken.
The abrupt decision by CEO Mark Zuckerberg was blamed on the recession that the world is facing but critics have blasted the claims and called it an abrupt lie. Moreover, investors are slamming Zuckerberg for his humble wake-up call that has been taking place for so long.
In the month of October of last year, Meta started to cut jobs by the masses as it wished to reduce its workforce by 20% and reduce the firm’s overall spending too. This entails so many multi-billion dollar investments linked to its much talked about Metaverse.
See, the problem is that Zuckerberg has overestimated the potential of the Metaverse and made all decisions in a manner that he felt would best benefit the endeavor. This included making big bets on expensive gadgets like VR goggles and Reality Labs.
The only problem is that there has been so much talk but very little action and that is what is concerning a lot of people right now. These decisions aren’t proving to be fruitful as they’re not churning any revenue, despite billions being invested in the likes of its creation and research.
So as you can imagine, Meta continues to drift into a land of excess where there are just too many individuals and too few ideas.
Today, Meta is not talking a lot about the Metaverse at all. And you can’t help but wonder why the super-ambitious and overzealous Zuckerberg’s aspirations have come to a standstill.
As far as the tech giant’s single largest investment, it remains to be the world of AI.
Read next: This Study Reveals Huge Gap Between PR Professionals and General Population
