Facebook parent Meta started to trim its staff as a part of the second layoff it announced in March this year. While the company CEO Mark Zuckerberg expects the layoffs for 2023 will be completed in May, he did not rule out future job cuts.
According to a report by The Wall Street Journal, Zuckerberg addressed employees in a virtual Q&A session this week after the latest round of layoffs. He told employees that about 4,000 employees, primarily in the company’s tech divisions, were affected by the latest job cuts.
While Meta will eventually fill positions that have been vacated, he said, the employees shouldn’t expect more than 1% to 2% year-over-year net growth “from this point forward.”
“I just kind of think that for where we are in the efficiency that we’re able to get from new technologies, that’s probably the right model to expect going forward and that will be a different operating model and I think we can do it well,” Zuckerberg was quoted as saying.
Zuckerberg on further job cuts
Zuckerberg expects to complete most of the layoffs for 2023 in May but when asked about further job cuts, he said that it is hard to predict what will happen in 2024, 2025 and beyond.
“I generally feel good about the position here, but just given the volatility, I don’t want to kind of promise that there won’t be future things in the future. What I can say is that there’s nothing that we’re planning now, and if we do something, it’ll be sort of on that time frame,” he said.
Meta-owned Facebook, WhatsApp, Messenger, Instagram and Reality Labs were among the divisions that were hit in the latest round.
CEO wants remaining staff to stay
On a question of why the remaining staff should stay at the company at a time when he has “shattered the morale and confidence in the leadership of many high performers who work with intensity”, Zuckerberg said that he hopes they believe in the work that the company is doing.
“There’s no other company in the world that delivers social experiences at the scale that we are and that does so across such a diversity of different products and use cases. So if you want to reach people in the billions and have a massive impact, I think this is a great place to be,” he was quoted as saying.
According to a report by The Wall Street Journal, Zuckerberg addressed employees in a virtual Q&A session this week after the latest round of layoffs. He told employees that about 4,000 employees, primarily in the company’s tech divisions, were affected by the latest job cuts.
While Meta will eventually fill positions that have been vacated, he said, the employees shouldn’t expect more than 1% to 2% year-over-year net growth “from this point forward.”
“I just kind of think that for where we are in the efficiency that we’re able to get from new technologies, that’s probably the right model to expect going forward and that will be a different operating model and I think we can do it well,” Zuckerberg was quoted as saying.
Zuckerberg on further job cuts
Zuckerberg expects to complete most of the layoffs for 2023 in May but when asked about further job cuts, he said that it is hard to predict what will happen in 2024, 2025 and beyond.
“I generally feel good about the position here, but just given the volatility, I don’t want to kind of promise that there won’t be future things in the future. What I can say is that there’s nothing that we’re planning now, and if we do something, it’ll be sort of on that time frame,” he said.
Meta-owned Facebook, WhatsApp, Messenger, Instagram and Reality Labs were among the divisions that were hit in the latest round.
CEO wants remaining staff to stay
On a question of why the remaining staff should stay at the company at a time when he has “shattered the morale and confidence in the leadership of many high performers who work with intensity”, Zuckerberg said that he hopes they believe in the work that the company is doing.
“There’s no other company in the world that delivers social experiences at the scale that we are and that does so across such a diversity of different products and use cases. So if you want to reach people in the billions and have a massive impact, I think this is a great place to be,” he was quoted as saying.
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