Meta to lay off more workers

 

Meta plans to lay off thousands more employees.  The owner of Instagram and Facebook laid off 11,000 workers in November, representing 13% of its workforce, in a bid to increase its efficiency Meta has been "flattening" its organizational structure by offering buyout packages to managers and getting rid of entire teams viewed as nonessential. The next round of job cuts is focused on finances and is unrelated to the company's "flattening" strategy, according to a Bloomberg report citing people familiar with the matter. Meta's planned layoffs may be finalized as early as next week. CEO Mark Zuckerberg said during Meta's earnings call last month that 2023 would be the "Year of Efficiency" and vowed to reduce the number of middle managers at the company.