Facebook parent Meta has been on a roller-coaster ride lately that has included CEO Mark Zuckerberg declaring a “year of lean,” laying off thousands of workers and slashing benefits. Some of those moves have been reflected in the company’s strong stock performance, which has boosted Zuckerberg’s wealth by $46.6 billion to $92.3 billion this year, according to the Bloomberg Billionaires Index.
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Despite its advantages, the mission of the meta workers is to be “more dirty”.
“Going through restructuring and layoffs and changes like that is a very difficult thing,” Zuckerberg told employees on a companywide call on Thursday. The Washington Post. “So my goal is that we’re not going to be where we were before because that’s not the case. I wanted to reach a very good place. “
Since last year, Meta has implemented two rounds of job cuts: 11,000 in November and another 10,000 announced in March. All of those shots will fall under Zuckerberg’s extensive overhaul to achieve greater efficiency.
He told his employees that one of his goals was to “found a strong technology company that could build better products faster.” Post He reported. Another reason was to improve Meta’s financial performance to support long-term projects in a challenging economic environment.
During the pandemic, the company continued its hiring spree, doubling its workforce starting in 2020. But that’s ruined because the staff are just “stockpiled” like Pokemon cards and have no real job.
Zuckerberg’s announcement of a “year of efficiency” and strong first-quarter earnings boosted investor optimism, sending the company’s shares up 23 percent on the day. Meanwhile, Meta’s investments in artificial intelligence and the virtual world of the Metaverse remain strong, Bloomberg reports. The company unveiled computer chips last week that could boost its AI and video processing infrastructure.
The meta goal is to be “more,” a term often used to describe startups that are strapped for cash and resources, and therefore need to make the most of what’s available. Zuckerberg said he wants Meta to be less bureaucratic and work faster with fewer employees.
“It forces us to find ways to be more sophisticated and do things more efficiently,” Zuckerberg said. Post. “This means there will be fewer areas or projects with multiple cooks in the kitchen, which is a common complaint I hear over and over again at the company.”
In an earnings call earlier this year, Zuckerberg hinted that he would be cutting management layers to make the company leaner and more efficient in day-to-day operations.
Meta did not immediately return. ChanceRequest for feedback.
This story was originally published on Fortune.com
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