ZUCKED

Meta Poised for Another Brutal Round of Layoffs

CEO Mark Zuckerberg said he didn’t “anticipate” more cuts after firing 11,000 workers in November.

It’s a tough day to be a middle manager at tech giant Meta. According to The Washington Post, the company is preparing a fresh round of layoffs and organizational restructuring after implying in November that there would be no more cuts. Meta seems poised to flatten its corporate hierarchy by demoting some managers to lower positions and placing others in charge of larger teams, in a move expected to cause resignations. It will also likely axe some projects as part of an overall drive to make 2023 what Zuckerberg called the “year of efficiency” in a meeting with investors earlier this month. The Facebook parent company’s cuts are just the latest in a wave of tech-sector layoffs that have affected Microsoft, Amazon, and Alphabet, and come amid reports of declining ad revenue and a losing bet on virtual reality. The layoffs follow a brutal dismissal of 13 percent of the company staff—11,000 workers—in November.