Having sacked over 11,000 employees in a layoff news that created waves, Meta is now looking to axe middle-management roles.
The tech giant has already frozen hiring, and now media reports indicate that Meta has put its middle managers on notice, amidst the uncertain economic environment and increased competition and other unfavourable conditions.
As per the newsletter, Command Line, at a meeting recently, Mark Zuckerberg, CEO, Meta, has reportedly warned managers that Meta does not wish to see sets of managers managing other sets of managers, who are managing the employees. This revelation from the CEO himself has led to beliefs that Meta intends to do away with middle managers.
The Company is set to make its quarterly results public this week. And that is when it is expected that the announcement regarding sacking of middle managers in order to make the structure of the Company more flat may be made.
Earlier too, Zuckerberg has indicated the desire to make the Company more lean and efficient. Among other corrective measures, the Company intends to cut costs, ensure that spending becomes more discrete and also extend the hiring freeze.
Zuckerberg has admitted that just like other organisations, he too had thought that the e-commerce surge that happened during the pandemic would continue; that the revenues will continue to increase. Therefore, he too had invested heavily, but the performance and growth did not continue as expected.
