As Meta Platforms, Alphabet and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager.
Meta will be cutting some layers of management, Chief Executive Officer Mark Zuckerberg said on the company¡¯s earnings call Wednesday, naming 2023 its ¡°Year of Efficiency.¡±
The company let go of over 11,000 workers last year, 13% of its workforce, in its first major layoff. This is ¡°just the beginning,¡± said Susan Li, the company¡¯s chief financial officer.
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