(Bloomberg) — Meta Platforms Inc. is asking many of its managers and directors to switch to personal associate jobs or leave the company as the company tries to become more efficient, according to people familiar with the matter.
Most read from Bloomberg
This process is known internally as “flattening,” the people said. Upper-level managers will share the directive with their subordinates in the coming weeks, separate from the regular company performance reviews currently underway, the people who requested anonymity discussed the matter. a matter not publicly said. Individual contributors are not responsible for others and instead focus on tasks such as coding, design, and research.
Meta, which owns Facebook and Instagram, laid off 13% of its workforce in November in its first major wave of layoffs. In the months since, employees have faced extreme anxiety about future layoffs, the people said. Meta CEO Mark Zuckerberg explained in the company’s earnings report this month that he still feels the organization is running too slow and cumbersome. He called 2023 the “Year of Efficiency” and pledged to cut back on middle management and underperforming projects.
Read more: A clear target emerges in tech layoffs
Residents said the current job cuts would be gradual, done on an individual basis. Several Meta employees said they felt the need to change because the organization consisted of several teams competing to achieve similar goals and managers only supervised one or two employees. Meta declined to comment.
Zuckerberg’s plan for a leaner organization has helped the stock price recover from 2022, the worst year ever. It is up more than 56% so far this year.
—With support from Alex Barinka and Julia Love.
(Updated with personal collaborator description in second paragraph)
Most read from Bloomberg Businessweek
©2023 Bloomberg LP
