Zuckerberg hints at more Facebook layoffs
Meta CEO Mark Zuckerberg hinted at the possibility of more layoffs at a recent internal meeting, months after the company cut more than 1[ads1]1,000 jobs. Reports quoted Zuckerburg as saying that he is opposed to “managing leaders” and that leaders 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 people doing the work,” the billionaire told The Verge’s newsletter, Command Line.
The possibility of layoffs seemed even stronger with Meta’s Chief Product Officer’s comments last month. Chris Cox had discussed the possible “fatting” of the organizational structure on the company’s communications platform, Workplace, Mashable India reported.
Mark Zuckerberg also reportedly discussed the development of ChatGPT-like AI tools that will eventually help engineers and non-engineers with coding.
Last year, Facebook’s parent company BuzzFeed paid 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 sees BuzzFeed help Meta generate creator content as well as train creators to grow their online presence.
Meta cut 13 percent of its workforce in November last year, the first and largest layoffs in the company’s history. The pandemic-led boom that boosted tech companies and their valuations has turned into a flurry in the face of decades of high inflation and rapidly rising interest rates.
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