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Business News/ News / World/  Another round of Meta layoffs soon? Mark Zuckerberg questions manager roles
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Another round of Meta layoffs soon? Mark Zuckerberg questions manager roles

Facebook and Instagram owned Meta, which recently laid off 11,000 employees may have identified more redundant roles in the organisation

Meta CEO Mark Zuckerberg speaks during the annual F8 summit at the San Jose (AFP)Premium
Meta CEO Mark Zuckerberg speaks during the annual F8 summit at the San Jose (AFP)

Is Facebook and Instagram owned Meta planning another round of layoffs? Its founder and CEO Mark Zuckerberg's recent comments on managers has raised eyebrows and apprehensions of phase 2 of pink slips coming soon. According to a recent report from The Verge, quoting Mark in one of the interactions with employees, company may be thinking of letting go of the middle management.

“Managers managing managers, managing managers, managing managers, managing the people who are doing the work". Zuckerberg stated.

After laying off 11,000 employees from his company Zuckerberg still thinks many layers of management are a waste of resource and the managers who build big teams shouldn't be rewarded. Earlier in January, the same news entity had reported that Meta’s chief product officer Chris Cox mentioned on the company’s communication platform - Workplace - about the possible "flattening" of the organisational structure. The newsletter suggested that employees should brace for more job cuts in the near future.

He also complimented AI tools like ChatGPT, with ability to replace humans to do jobs of coding, content, engineering over time.

In November 2022, Meta had sacked 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs of the year and the first in the company's 18-year history. While Meta announced then that it also plans to extend its hiring freeze through the first quarter, Zuckerberg apologised and took responsibility for these actions.

However, there has been a copycat layoff trend catching up across the tech sector with Microsoft, Google and other big giants laying off employees en masse. Experts suggest main reason is due to over hiring and incorrect strategy decisions taken during Covid season. Now employees have to bear the brunt of management's decisions. 

“At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that." Mark had told his employees during the previous layoffs.

 

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Published: 30 Jan 2023, 11:50 AM IST
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