Zuckerberg hints at more layoffs on Facebook

Meta CEO Mark Zuckerberg hinted at the possibility of more layoffs during a recent internal meeting, months after the company cut more than 11,000 jobs. Reports quote Mr Zuckerburg saying he is opposed to “managing managers” and that managers who build larger teams should not be paid.

“I don’t think you want a management structure that is all managers managing managers, managing managers, managing managers, managing the people who do the work,” the billionaire said. cited as The Verge’s newsletter, Command Line, puts it.

The possibility of layoffs seemed even stronger when seen with comments from Meta’s chief product officer last month. Chris Cox had mentioned the possible “fattening” of the organizational structure on the company’s communication platform, Workplace, Mashable India reported.

Mark Zuckerberg also reportedly discussed developing ChatGPT-like AI tools that will eventually help engineers and non-engineers code.

Last year, Facebook’s parent company paid millions to BuzzFeed to ‘bring more creators’ to Meta’s platforms, The Wall Street Journal reported. The deal is reportedly valued at around $10 million and will involve BuzzFeed helping Meta to generate creator content and train creators to grow their online presence.

Meta reduced by 13 percent of its workforce in November last year, the first and largest layoffs in the company’s history. The pandemic-driven boom that boosted tech companies and their valuations has turned into a slump in the face of decades-high inflation and rapidly rising interest rates.