Mark Zuckerberg wants 2023 or “the year of efficiency” for Meta (parent company of Facebook). So he put his plan into action by asking company executives to focus on specific tasks like computer coding or design, depending on their skills. Failing that, they are invited to leave the company, US media reports Bloomberg.
In the coming weeks, Facebook executives and managers will share management tasks, while the former will need to focus on coding, design, and research. According to employees interviewed by Bloombergsome executives think this change is necessary: teams are currently competing to achieve similar goals.
As for layoffs of executives who don’t want to change their missions, this will be gradual and voluntary.
Bouncing back after a disastrous year
In 2022, Meta experienced a lot of cold sweats: a historic drop in revenue and 11,000 job cuts. Facebook laid off 13% of its workforce last november. The head of Facebook then began a restructuring of the company’s organization: elimination of positions and low-performing projects.
Mark Zuckerberg wants his employees to be more productive: “we seek (…) to remove certain levels, certain middle managers to streamline decision-making,” he declared on February 1 at a conference with Meta investors.
Changes that are beginning to bear fruit as Facebook has seen its share price rise by more than 56% since the beginning of the year. Investors have also been reassured by the change in speech of the company’s founder, who now seems to no longer bet everything on his much-criticized metaverse project.
Source: BFM TV
