A new report from Bloomberg has confirmed a previous report indicating that Meta is gearing up for another major round of layoffs. These could reportedly happen as soon as this week and will be in addition to the 13 per cent headcount reduction from November 2022.
Meta is apparently taking a "two-pronged approach with its layoffs" which we assume means that it is making people leave their desks with a two pronged fork. Bloomberg said it is letting go people either to flatten the hierarchy in the company or to meet certain financial targets. Managers are being offered buy-out packages and teams deemed non-essential are being escorted from the building.
Meta is asking directors and vice presidents to make a list of people who can be let go without significant impact to the company. We guess it is ignoring all those managers who put "Meta CEO Mark Zuckerberg" at the top of the list.
Zuckerburg had previously dubbed 2023 the "year of efficiency", noting that:
"We’re focused on becoming a stronger and more nimble organisation. Honestly, it’s still a mess. The year of efficiency is kicking off with a bunch of people getting paid to do nothing."
According to some employees, there is an environment of "heightened anxiety and low morale" within the company lately as workers fear getting laid off, before they receive their bonuses which are expected to be distributed this month.