Is Meta Considering More Layoffs? Zuckerberg Says He Doesn't Like 'Managers Managing Managers'

Zinger Key Points
  • Last year in November, Meta announced laying off more than 11,000 people, about 13% of its workforce. 
  •  Facebook has paid nearly $10 million to BuzzFeed to generate creator content. 

Meta Platforms Inc META CEO Mark Zuckerberg is hinting at possible additional layoffs, after the social media giant announced 11,000 job cuts, or 13% of its total workforce, last November. 

According to a recent report by the Command Line newsletter from The Verge, Zuckerberg said that he's not in favor of having layers of management in the company, indicating he may be considering a reduction in middle managers. 

"I don't think you want a management structure that's just managers managing managers, managing managers, managing managers, managing the people who are doing the work," Command Line quoted Zuckerberg saying in an internal Q&A session.

Earlier in January, Meta's Chief Product Officer Chris Cox wrote in a post highlighting the need to "flatten" the organizational structure, Command Line reported. 

Meta's Facebook is also planning to outsource some of its creator content jobs to BuzzFeed. According to The Wall Street Journal, Facebook has paid nearly $10 million to BuzzFeed to generate creator content. 

Also Read: Elon Musk's Ex-Girlfriend Grimes Says Mark Zuckerberg 'Wildly Under Qualified' To Run Metaverse

After November's layoffs, Zuckerberg said he was accountable for Meta's missteps and that his over-optimism surrounding growth led to overstaffing. "I got this wrong, and I take responsibility for that," he acknowledged.

Earlier, Zuckerberg issued a statement saying that the company expects to end 2023 as "roughly the same size or even a slightly smaller organization than we are today."

Now Read: Meta Quest Pro Available At $400 Discount Now — A Good Bargain Or Still Too Pricey?



Market News and Data brought to you by Benzinga APIs
Posted In: NewsTop StoriesTechFacebooklayoffmanagersMark Zuckerberg
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!