Meta’s CEO Mark Zuckerberg has shared some of the company’s restructuring plans with employees.
“Change is never easy, but I know we will get through this and come out an even stronger company,” he said.
Meta, which aims to turn 2023 into a year of efficiency, will further lay off 10,000 individuals and close around 5,000 additional open roles.
Zuckerberg revealed that Meta intends to focus on flattening the organisation, canceling lower-priority projects, and reducing hiring rates in the next couple of months. With less hiring, the company is also downsizing its recruitment team.
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“We expect to announce restructurings and layoffs in our tech groups in late April, and then our business groups in late May. In a small number of cases, it may take through the end of the year to complete these changes,” Zuckerberg said.
The company is focused on becoming a better technology company. Mark Zuckerberg said that the company is focusing on the long term as it invests in tools that turn effective over years, including its development of AI tools.
“Our single largest investment is in advancing AI and building it into every one of our products,” he said.
Zuckerberg quoted the company’s performance data that hinted engineers who either joined Meta in-person and then transferred to remote or remained in-person performed better on average than people who joined remotely.
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