Mark Zuckerberg’s self-proclaimed “year of efficiency” continues with an alleged second round of mass layoffs after a brutal 13% cutback in November.
Thousands of workers at the Silicon Valleybehemoth, which owns Facebook, Instagram, WhatsApp and the struggling Meta Quest VR system, could reportedly be sacked as soon as this week pending final approval from Zuckerberg, who is scheduled to go on paternity leave for his third child. The newsAccording to the Bloomberg report, the layoffs come from the company’s desire to hit financial goals — and is distinct from a broader “flattening” and reduction of middle managers at the company.
The report also claims that morale at the company has been down, with workers concerned that they may lose out on their annual bonuses if they get laid off before they are disbursed.The news tracks with a worrisome, which alleged that budget approval delays — which would result in more layoffs — ground productivity to a halt at Meta.
Beyond broader macroeconomic challenges, Meta has been afflicted by a specific subset of struggles. Zuckerberg’s virtual reality pipe dream — manifested in the incessant push for Quest goggles and the Horizon Worlds “metaverse” — has not caught any traction despite big marketing pushes and . The company also suffered from the changing digital ad economy, seeing its first decline in ad revenue in 2022 as Apple’s privacy protections continue to reverberate across the industry.
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