Citing sources, Bloomberg reports that Zuckerberg has outlined sweeping plans to “restructure some teams to cut costs and redesign priorities” as well as “reduce first-time headcount.” first”. This is probably the first time Facebook has announced this big cost-cutting plan.
30-day list to find a new role in Meta or leave
Recently, a report by the Wall Street Journal claimed that Meta has added more employees whose jobs are being dropped to its traditional “30-day list”. The 30- to 60-day “list” features employees who are asked to find a new role in the company or quit. The company had 83,553 employees at the end of the second quarter of this year.
In fact, in May, Zuckerberg announced a hiring freeze in certain segments of Meta and said he couldn’t make promises about possible job cuts. He then warned the employees, “In fact, there are probably some people at the company who shouldn’t be here… And part of my hope is by raising expectations and having positive goals. more, and just to raise the temperature a little bit, I think some of you might say that this place isn’t for you. And it’s fine with me to make that choice.”
Meta .’s existential threats
Meta-owned apps, Facebook and Instagram, has faced strong competition from TikTok. Both apps have been refactored to better compete with the Chinese short video maker. According to the report, Apple’s iOS privacy policy will also cost Facebook $10 billion by 2022. Its advertising business has also been affected by the pandemic, and the company is investing billions of dollars in it. build the metaverse with almost no profit.
