Meta Lays Off Thousands More Employees As Zuckerberg Urges Return To Physical Offices

Meta CEO Mark Zuckerberg It was announced that the social media Company 10,000 employees would be fired and efforts to fill 5,000 vacant roles would cease. Economic Turbulence and poor performance

Meta reported $116.6 million in revenue in its last fiscal year Earnings Report The net income fell 41% from 2021 to $117.9billion, despite a slightly higher effective tax rate and 23% rise in operations costs. Zuckerberg spoke on Tuesday. An announcement Continual efforts are made to “improve organizational efficiency” “garbage collect unnecessary processes” This would require a reduction in headcount.

“As I’ve talked about efficiency this year, I’ve said that part of our work will involve removing jobs, and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision,” Zuckerberg wrote.

The executive Discontinued After receiving a letter from Altimeter Capital Management CEO Brad Gerstner, he was encouraged to make changes that would dramatically reduce his company’s headcount. The number of employees at the company has more than tripled in four years from 25,000 to 85,000. Meta shares rose more than 20% following the announcement of the layoffs, indicating that investors were encouraged by the focus on efficiency.

Gerstner observed that Silicon Valley is home to many companies who could be a potential threat to their businesses. “achieve similar levels of revenue with far fewer people.” Zuckerberg recognized that letting go of less important initiatives allowed talented employees to focus their attention on the most important tasks.

Zuckerberg told his employees Tuesday that he was expecting a cultural shift towards less managerial bureaucracy. “adds latency and risk aversion” The company is putting more emphasis on engineering positions than other positions, as well as in decision-making. He revealed that remote work analysis showed that either engineers who worked in a Meta office before moving to remote work or those who still worked in a physical office were the most likely to have done so. “performed better on average” They are more than those who joined the company to take a virtual job.

“This analysis also shows that engineers earlier in their career perform better on average when they work in-person with teammates at least three days a week,” Zuckerberg continued. “This requires further study, but our hypothesis is that it is still easier to build trust in person and that those relationships help us work more effectively.”

Similar results were found This was done Other prominent tech companies have also implemented virtual work arrangements across the board in response to lockdown orders. Some workers are upset that their employers have reinstituted hybrid or traditional work. Amazon employees, for example, require staff to report to the physical office at least three days per week. started A channel within Starbucks to address the issue of remote work. petitioned Following a similar announcement, management.

Virtual work arrangements are more popular with employees due to the reduced commute time and greater flexibility. However, employers often face significant costs. According to a study, 85% managers believe that the switch to hybrid work during recession lockdowns has affected their ability to produce. Study Microsoft

“From Meta Fires Thousands of More Employees as Zuckerberg Demands Physical Offices Be Reopened“

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