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Facebook owner Meta plans more layoffs as staff “paid to do nothing”

By Nithya Bose in US business news, posted February 13, 2023

Meta is said to be planning more layoffs as boss Mark Zuckerberg's "year of efficiency" cost-cutting plan causes chaos.

Staff say the company has delayed completing various teams’ budgets, while sources said there was a lack of clarity about budgets or future headcount.

Employees said staff were complaining “zero work” is being carried out since managers can’t plan their upcoming tasks.

Projects and decisions that require a few days to finalize, especially those in priority areas like metaverse and advertising, now take about a month, staff say.

However, certain budgets are typically done before the end of the year.

One metamate said: “Honestly, it’s still a mess.

"The year of efficiency is kicking off with a bunch of people getting paid to do nothing.”

Staff now say the Facebook parent intends additional layoffs after cutting 11,000 employees, or nearly 13 percent of its headcount in November.

Three employees said the cuts and uncertainty had demotivated and demoralized their colleagues.

Mr. Zuckerberg revealed earlier this month that the social media giant continues to struggle with its costs under his new "year of efficiency" credo.

Despite the most drastic downsizing last year, additional layoffs are planned around March.

Sources said the company is currently conducting performance reviews.

Zuckerberg said: “Next, we’re working on flattening our org structure and removing some layers in middle management to make decisions faster.”

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He also said the company would be “more proactive” in eliminating underperforming or low-priority projects.

A source said managers would sometimes be asked to transfer to non-managerial positions, known as individual contributor roles, or resign.

Meta declined to respond to requests for comments.

Source: Financial Times

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