that the company was"working on flattening our org structure and removing some layers of middle management to make decisions faster."— roughly 13% of its workforce. Zuckerberg said the company had significantly increased its investments during the pandemic as revenue boomed due to the shift to online shopping, but that this trend had since dulled."This did not play out the way I expected," he wrote at the time.
The job cuts as part of the"flattening" will be more gradual and carried out on an individual basis, Bloomberg reported, citing the people familiar with the matter.."We're focused on becoming a stronger and more nimble organization," he said, in a report accompanying the results. collectively laid off tens of thousands of workers
over the past few months as they prepare for a looming recession. As well as reducing headcounts, companies have been cutting costs too, including paring back staff perks and reducing office space. "I view layoffs as a last resort, so we decided to rein in other sources of cost before letting teammates go," Zuckerberg said when he announced the layoffs in
, adding that Meta was cutting discretionary spending and extending its hiring freeze through the first quarter of 2023.
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