Meta Corporation required managers to contribute more or leave the company
Meta Platforms Inc., which owns Facebook, Instagram and WhatsApp, is asking many of its managers and directors to transition to individual contributor jobs or leave the company, Bloomberg reports, citing its sources
According to the source of the agency, in this way Meta wants to increase its efficiency and reduce costs against the background of the crisis in the industry.
Prior to this announcement, the company had already fired 13 percent of its workforce during its first major layoff. At the same time, the head of the corporation, Mark Zuckerberg, believes that Meta is still too slow-moving and bloated. He also called the current year for the company a year of efficiency, promising to cut middle-managers and underperforming projects.
Earlier, the American holding Alphabet, which owns Google, decided to cut 12,000 employees because of the economic downturn in the technology sector while Microsoft has announced that it intends to lay off approximately 10,000 employees this year due to lower digital spending by consumers. Moreover, even the world’s most popular streaming service Spotify is about to cut staff by 6 percent.
