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Meta Is Reportedly Cutting Staff And Reorganizing Teams
Arnd Wiegmann / reuters
September 22nd, 2022 | 13:38 PM | 220 views
Mark Zuckerberg has warned the company is facing "serious times."
Meta has begun cutting staff and reorganizing teams in an effort to cut costs, according to a new report in The Wall Street Journal. The company apparently doesn’t want to frame the changes as layoffs, but is reportedly “quietly nudging out a significant number of staffers” as it prepares for more significant cuts.
It’s not clear how many Meta employees have been affected so far. According to the report. Meta has been allowing staffers to apply for new jobs within the company, but workers only have a 30-day window to do so. The result, according to The Journal, is that “workers with good reputations and strong performance reviews are being pushed out on a regular basis.”
Meta has been signaling for some time that it will reduce staff and cut projects as it deals with shrinking revenue amid what Mark Zuckerberg has described as an “economic downturn.” The CEO warned during the company’s most recent earnings call that Meta would slow hiring and would need to “get more done with fewer resources.”
Zuckerberg has recently told employees the company is facing “serious times” and managers have been asked to identify “low performers” to cut. The company has also axed some projects from its Reality Labs division, which has lost $10 billion in 2021. Dozens of Meta contractors employed by an outside firm were also recently told their jobs had been eliminated.
courtesy of ENGADGET
by Karissa Bell
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