Meta Platforms Inc. will cut some layers of middle management amid a companywide effort to reduce costs and increase “efficiency,” Chief Executive Officer Mark Zuckerberg said during an earnings call Wednesday.
The Facebook parent will also look to cut projects that are not performing or are not crucial, and to improve execution of priorities, Zuckerberg said.
The company fired 13% of its workforce last year in its first major layoff, consolidated offices and streamlined its data centers.
This is “just the beginning,” said Susan Li, the company’s chief financial officer. Li also said the Meta is “fully scrutinizing our hiring needs.”
